I used ustream for a radio station thats big here... I have the storm and saw they only did those phones and now im patiently hiding in the dark waiting for them to snap up and make it for the storm... would work great for business use!
I work for a TV news station, and for our liveshots, we have to use a big bulky truck (think a large U-Haul with a satellite dish on top of it). We just had "Breaking News" and used UStream for iPhone.