Qik for the iPhone a delayed broadcast was possible, but it took months for the thing to break out of its WiFi-only shackles. Now you, like Bill O'Reilly, can do it live courtesy of the Ustream's Live Broadcaster, newly available in the App Store. It's not the first to stream live video from Apple's handset, an app called Knocking gets that distinction after getting the nod last week, but it is the first to allow live broadcasting, it works over 3G, and it's available for free right now for iPhone 3G and 3GS models running OS 3.1 and above. So go ahead, start those cameras rolling and tell all your friends how great it is -- just don't be heartbroken if they're not all that impressed.
P.S. It's worth noting that Ustream also works in local record mode thus turning the iPhone 3G into a video camera like its newer 3GS sibling. Videos (stuck at 320 x 240 pixels) can then be easily viewed in the Broadcaster app or uploaded to Ustream, YouTube, Facebook, or Twitter.