Oh yeah, i forgot about m3u files. There pretty pointless in my opinion tho.

All you have to do is make a new text document in notepad, and simply put the link to the track you want in it. Then save the file as "whatever.m3u" and media player will follow the link. You can also create a playlist like this by adding the different links on a new line for each track. If your doing live streaming, then you can simply link to the server area where the stream is, and then you can put tags in the m3u file to say what the stream is -

#EXTM3U
#EXTINF:-1,This would be where you type the name and info of your stream
http://enter.ip.address.here