Best Browser for Streaming Video?

I'm currently using Safari and streaming video seems to be a bit laggy at times (the frame rate, not the loading). I'm using a Macbook Pro 13" with 2.3 Intel Core i5 and I was wondering if a different browser would fix the problem?

Probably. Silverlight, for me at least, runs much more smoothly in Safari than any other browser. Try them all and see what works best for you. I only say that since you'll get as many different responses to this thread as there are responses themselves.

I installed Silverlight... do I just use it as a plugin or do I have to do something else with it?

It's a plugin so you don't do anything directly. Silverlight will load in your browser when it's needed.