I'm looking for a (MIT or similarly licensed) sound / audio library that lets me grab MP3, WAVs, etc... from an embed and play back with 0 latency.

This past Ludem Dare I took a look at a few I had bookmarked over the years but every single one has start-up latency for MP3s (or WAVs). I also tried some tricks to remove the latency (e.g., playing a Sound once and holding onto the Sound for future plays) but it was a no go.

I'd like to find something (or a technique), otherwise I'll have to tell me students to either live with the initial gap or that they'll need to purchase the Flash IDE, which works some black magic, and generates an appropriate SWC with no latency sound.