I have a project that I created as a 720 x 480 avi file. I want to render it so that it will stream from my web site. What is the best file format and specs to use for this purpose?
The best way is Flash, via Flash interface. Quicktime can be done too, but not all people have it installed, plus it keeps loading the video even if you didn't ask to do so (bandwidth issues). This is why I wrote a tutorial on how to do it here: http://eugenia.gnomefiles.org/2007/09/12/from-dvhdvavchd-to-flash-video/
If you are looking into putting stuff on youtube instead, just export to PSP quality from VMS' own exporting template options (these exist at least on VMS8).