Qik just sent me a beta release of their new iPhone app. You can use it to stream live video from the iPhone. It's viewable at Qik.com and is stored there as well. This does not require jailbreaking - this is an official app that will be available in the iTunes App store soon. Considering there's no video recording on the iPhone, this is pretty amazing. Here's my first attempt. One thing I've learned: hold the phone still!
I'm looking forward to using this to stream video when I'm out and about. You can follow twitlive on Twitter for notices when I stream live from the phone.