The AirPhones² update has improved stereo quality and even lower latency.
AirPhones was specifically designed for LOW-LATENCY, wireless, audio transmission, especially for watching video content. As a result of INTENTIONALLY giving up these buffers, the transmission isn't quite as seamless as a large buffered stream, but is definitely worth the minimal compromise for a synced experience.
Due to user feedback, we are however working on adding an additional, larger buffer option, for pristine playback, but with noticeable latency. This is something we have been less concerned with to this point, than our current, very low-latency solution.
Due to the specific protocol we're using, the volume is now controlled using your device volume buttons.
Use the 'sleep' button as usual.