From a comment I made on Cali Lewis's blog regarding her considering live streaming:
I think a large part of it will be to figure out what format you’re going for. Are you going for what we’re seeing in your WWDC video, where we’re simply watching you watching something else, ala many of the current streams like Leo’s (Laporte) current, Jason Calacanis, Veronica Belmont, etc….or are you going for something more along the lines of your own show, where you are the source, and you are directly informing or entertaining us, or having live/skype guests on, ala Leo’s upcoming show, Howard Stern, The Daily Show, etc….
I am more entertained when the person I'm watching is the source, as opposed to simply a conduit to another source. Veronica Belmont streamed yesterday, and while it's certainly pleasant to see Veronica, she was typing away most of the time...not overly compelling video. The format needs to evolve into something more worthwhile, IMO.