In years past, Apple streamed the Macworld San Francisco Keynote (aka Stevenote) live for your delectation. Unfortunately, they seemed to have suspended the practice. Well what's a Mac news junkie to do? Of course you'll be able to count on TUAW and others for live text feeds of the event, but World of Apple Live is promising their own grassroots broadcast via an advertising-supported Flash player.
According to the site, they "will be [in] attendance at the Keynote with a laptop that has a flash encoder which captures sound and uploads it to a streaming server which then delivers it to a client-side player at your computer, delivering you with audio live from the Keynote." However, since they don't have guaranteed bandwidth (I'm guessing they'll be using a "Wireless Broadband" card on one of the cell networks), they can't guarantee success. As some commenters have pointed out, this is of questionable legality (and Apple is certainly not known for being reticent with the lawyers), but if they can pull it off it'll be worth checking out on Jan 9th.