Yes, it happened: Live video streaming has come to the iPhone courtesy of Ustream.
In a move that many suspected would never happen — surely the carriers would loathe the increased data usage resulting from such apps — Apple has approved the Ustream Live Broadcaster application, bringing live streaming video straight from the iPhone to the uStream Web site and any embedded players posted around the Web.
The app works on 3G and Wi-Fi connections, supports yes/no polling of viewers, displays chatroom messages, serves up a viewer count, can transmit your location via GPS and allows you to adjust the resolution.
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