RTMPE is definitely not a "Copyright Protection" mechanism.
An analysis of RTMPE (see "Analysis" section) shows that RTMPE does nothing more than what SSL already does (provide end-to-end secrecy) and simply mathematically links a publicly-downloadable and publicly-obtainable SWF file to the connection.
Bottom line: All the information required to obtain the content is publicly available. There is no "security".
If the information isn't publicly available (such as the SWF file to be executed in the web browser) then the content cannot be obtained, either.
Unfortunately, this leaves Adobe in the shit, if they've been claiming that SWF verification is somehow "secure". Anyone reading this who has bought into Adobe Technology on the basis of "security" or "protection" is advised to initiate legal action against Adobe, seeking compensation and damages for deceiving them about the level of "protection" of their Copyright material.
From Adobe's Web Site:
'(swf verification) ensures that only your SWF or AIR files can connect to your application or content on Flash Media Server'.
This is false. The correct interpretation is:
"if anyone can obtain the publicly-available SWF or AIR file (or a hash of it, and knows the SWF or AIR file's size) they can also connect to your application or content".