Will it be possible to place H.264 streams into the traditional FLV file structure? It will, but we strongly encourage everyone to embrace the new standard file format. There are functional limits with the FLV structure when streaming H.264 which we could not overcome without a redesign of the file format. This is one reason we are moving away from the traditional FLV file structure. Specifically dealing with sequence headers and enders is tricky with FLV streams.
Will it be possible to place AAC streams into an FLV file structure? Yes, though the same limitations as for H.264 apply.