An application that is more or less similar to the Qik application, streaming video needs on the iPhone are pegged to get a big boost with this new UStream iPhone video broadcasting application that is vying for a place on the Appstore.

The good news is that their latency from streaming to watching is pretty good (about 2-3 seconds), which is live enough to be called live. Not good enough, though, for having a conversation with really.

The iPhone 3G’s camera is decent enough to take video and the processor is fast enough to process and upload it.

Another really cool feature is the live poll, which you can activate and have all your viewers vote on. It sends an email to your account address when you close the poll.

The tech is there, so all that’s left is for Apple to approve it. It’s available now for jailbroken phones.

(Source) iPhones Talk