Professional :: Building A Music Player / Efficiency?

I'm creating a music player to be on my website and so far I have it set up as such: The player is contained in a movieclip with a 'song progress bar', a pause and a play button.The songs are played by clicking the song title in a list in the main stage (not contained in the player movie clip), which sends the music player to the frame in which the song starts.
 
My audio is set as event audio so that the play and pause buttons can be coded as play(); and stop(): respectively which will stop the main player movie clip thus yeilding the progress bar from moving further and the song from playing.
 
This works just fine, except for the following:
 
- When I select event as my audio type the quality reduces dramatically Having the audio files in my library and not obtained from some outside source (i.e on my website's server) causes the .fla file to be much larger as well as the .swf Being as my project is at 24 FPS and each song is represented in as many frames as it takesto play the song out, my music player at present has only 3 songs 'in it', and my frames in the movie clip are approaching 20,000 (this is VERY tedious to work with) 
 
I'm sure there is a more efficient way of doing things, but my knowledge is limited. I'd imagine I can do something along the lines of loading .mp3's off of my website into the frame and the play pause buttons will enact more elaborate scripts that not only stop the progress bar but also stop the music from playing temporarily, or something like this. But I have no idea how to implement it