I Stream, You Stream, We All Stream with Ustream for iPhone

Just released this morning, the new Ustream Live Broadcaster app (iTunes link) actually allows you to stream live video from your video-capable iPhone 3GS to the web, something which the recently released Qik app couldn’t (and still can’t) boast. It’s the first app to offer live streaming from Apple’s (s aapl) handset, and it even allows you to do so over both Wi-Fi and 3G connections.

In order to use the app, you’ll need to sign up for a free Ustream account if you don’t already have one. Ustream will prompt you to do so, and then allow you to register right within the app, without having to even pop out to Safari to complete the process.

As with any Ustream video, your live stream will be automatically recorded and stored on your Ustream account for later viewing. You can also notify your friends via Twitter that you’re starting a stream, and take advantage of Ustream’s built-in chat and Social Stream features to interact with viewers watching your video in real-time while you shoot. Obviously not something you can do while recording yourself, unless you are so intimately familiar with your iPhone that you can type when the screen isn’t facing you.

All of your recorded videos can be shared via the app to Twitter, Facebook and YouTube, but people wanting to tune in live will have to go to Ustream.tv. If you’re not within range of a data network when you want to make a recording, Ustream Live Broadcaster lets you record now and upload later, when you do find a reliable 3G or Wi-Fi connection.

Other features include the ability to start a yes/no poll, support for portrait and landscape recording, audio muting, video title editing, video resolution selection, viewer count and the ability to broadcast your phone’s GPS recording while streaming. It’s a very full-featured app, and one that I’m honestly surprised made it through the review process.

I think this app being released indicates a relaxation of some of Apple’s strictures regarding the streaming of live video, and possible the streaming of all video over a 3G connection. I expect an updated version of Qik with similar abilities to follow soon, and possibly a host of other apps that have been waiting at the gates for Apple to give the green light.

Interestingly, the app description says that both the 3GS and the 3G models are supported, although the sole purpose of the app is to broadcast live video as its recorded, which last time I checked wasn’t available on a standard, non-jailbroken iPhone 3G. Any users out there who have a 3G, get downloading (the app is free) and help us solve this mystery.