I've experimented a bit with lowering the hls_fragment value and the playlist length, and found that fragments smaller than 2 seconds caused too much buffering

I've experimented a bit with lowering the hls_fragment value and the playlist length, and found that fragments smaller than 2 seconds caused too much buffering on the end client for it to be stable - which resulted in higher latency than before. I'm looking into the latency issues and I've started drafting up possible solutions. Low latency MPEG-DASH might be something to experiment with. It won't reach sub-second latency, but it will definitely be better than HLS.