Should sub-modules be in their own project?

The prototype embed module has sub-modules for embedding flash, FlowPlayer and 1 Pixel Out player. One of the problems I've found with SWF Tools is that there are so many bits to the main package that it becomes more difficult to manage all the components. A minor fix to, say, FlowPlayer requires the whole package is recreated, when for many users the change won't affect them. All users would be alerted that there was update when it might be in a component they're not bothered about.

Should all embed submodules be in their own CVS project space, so we'd have embed_flowplayer, embed_onepixelout, embed_swfembed? It means multiple downloads, but offset by the advantage that subpackages can be managed separately. Users would then only be notified of updates to packages they actually use.

By using a convention of embed_{project name} we won't consume a lot of CVS names since it will be clear that the package "belongs" to embed.

Would each sub-module then have its own embed_{project}/resources folder for shared swf or JS, rather than bundling under embed/resources? I think so, since it keeps the directory spaces "clean" with all files relating to one package in one place.