As usual, http://klik.berlios.de or klik://kaffeine (the second link directly installs & runs it from your home directory, klik client must be installed)

You can use win32 codecs, just download them and change the win32 directory in Kaffeine settings. Then you can watch most proprietary streams as well.

The Kaffeine kpart (Kaffeine embedded into Konqueror) does not work this way because kparts don't run from the home directory (or do they?).