High quality video in flash (Yes/No quiz)

Hey, I have some work coming up where I'm required to create a second screen app quiz. There is a flash object on a TV monitor and the user uses their phone as the input device. The user is asked yes/no questions on their phone and when they answer, the .swf (or whatever) will gotoAndPlay a video depending on the answer.

I have a good idea of the script I need to use but I just want to know what kind of quality I can achieve embedding video into flash. I would like it to be as good as possible, DVD quality even, as it is to be used on a 42" monitor and there are no bottlenecks other than the capabilities(whatever they may be) of Flash.

They will be played from a laptop via an VGA/HDMI cable to the monitor and will not need to be downloaded at any stage so the file sizes can be large (so long as there are no adverse effects). The file can be pre-loaded before being used so if any buffering/loading is needed this is fine too.

I must use flash as the only alternative is Silverlight which I have no experience with.

What kind of results can I achieve and how do I best go about this, importing/embedding process mainly.

I've had a good look through the forums to no avail and since this is not a "online video" issue thought better of placing the post there. I hope this was correct.

Using Flash Pro CS5. Any help/info much appreciated. Thanks, Ben.