With "small" files, AVFoundation won't report that a file can play through until the entire file has been loaded. 'waiting' is only fired when the readyState drops below HAVE_ENOUGH_DATA, so this test can not work with our test media.
Correction: 'waiting' is only fired when the readyState drops below HAVE_FUTURE_DATA, not HAVE_ENOUGH_DATA
This test was timing out, but after that was solved in bug 142489, it's failing because the "EVENT(timeupdate)" doesn't appear in the test output.
I've flagged it from "[ Pass Timeout ]" to "[ Failure ]", as this problem is out of the scope of bug 142489.