So, I have been testing the HLS option from the Debug settings. It seems like a good solution for streaming devices that don't have a lot of free memory for the pause buffer. The HLS option provides a fixed 60 minute pause buffer stored on the server for any streaming device.
In my testing on a Shield Pro (ethernet connected), a Chromecast Google TV, a Sony Google TV, and a Firestick 4k TV Max, I found it takes about an extra 2 seconds to start a live stream and it had a couple of short pauses in the first 10 seconds.
While these things didn't cause me much concern, I did have problems when watching a recording. When playing a recording, the player would invariably lock up and crash especially while moving the scrubber bar. This makes the HLS option unusable for me. Channels works fine without using this option, just thought it would be a nice thing to solve the small pause buffer problem