Chalk this up as another reason to love Android. Android just received its second video broadcasting/streaming application, Ustream (the first being qik). Any Android user who downloads Ustream (for free in Android Market) will be able to instantly shoot video and stream it live over 3G or Wi-Fi. Other features include local recording for higher quality web sharing later and polling and chatting with viewers in real time.
One of the purported benefits of Ustream vs Qik is that Ustream handles latency (aka lag) better. In early testing, lag time of three seconds over 3G have been reported. That's nothing short of amazing. We're excited to see bigger developers release full-featured applications on Android, sorry we can't say the same for our iPhone using friends. Zing!