A specific application on Beagle Board

Hi everybody

I'm waiting to receive my first Beagle Beard.

My project is to develop a simple (I hope) application: I need to
receive a video (and audio) stream via TCP/IP, pass it to the
BeagleBoard through the USB, decode it and render it to the video and
audio outputs. The input stream will be a MJPEG stream (I could
evaluate MPEG too of course), the resolution will be in the range from
CIF to D1, the frame rate down to few fps (1-2 or something like
I will also need to manage the audio input and send it to a TCP/IP

I saw there are many projects (e.g. GStreamer) out there...
Can you suggest me the EASIEST, FASTEST and supported way to compile a
STABLE, GOOD WORKING application with the requirements reported

Thank you in advance for any suggestion!