I have setup a streaming server on IIS 7.5 utilizing the IIS Media Services 4.1 extension. I have configured the streaming in a separate application folder with its own subdomain. I have other sites that that are located on the same server that connect to the media on the streaming server, but I point to the sub domain. Should I rather point to a IP v4 address? Will it improve/affect performance in any way?
Yes, it will. THe initial connection will not require a separate DNS Lookup, so it will save like between 0.1 and 0.001 seconds ONCE, and that only when the data is not yet in the cache.
Which is totally irrelevant, in the practical sense.
Ht ias the advantage that you can move the streaming off to another machine if you need. Which is good - and a practical advantage.