YJMS will not have MP3 function; there is new player coming out from our sister company Miaflv.com that will have MP3, YouTube, advert videos and more file types.
Player preview can be seen here:
YJ Contact Us - Joomla Contact us Form Enhanced
It will feature full skin customizations, like color changes, different skins, playlists and so on. Release date is not yet set, but the last player functions are being built in.
This will be a standalone FLV player and Joomla version.