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The one drawback is that the viewer currently only works only with Wi-Fi, which is contrary to their claim that your can watch Ustream anywhere "regardless of where you are at and what you are doing, you can choose to be in the moment with others in a shared live experience around a live event. If you are out-on-the-town and know that a guest speaker at a major conference is “going live” and want to watch live and be-in-the-crowd."
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I haven't tested the Ustream app myself, but I've read several reviews which have been favorable. Here's a few posts from people who have tested the app:
- Just in time for the Obama inauguration, Ustream’s iPhone app launches » VentureBeat
- Ustream iPhone app makes App Store in time for inaugural address | Feeds | ZDNet.com
- Ustream’s Live Viewing App Hits the App Store » Apple Universe Podcast
- Ustream viewer makes it to app store just in time - The Unofficial Apple Weblog (TUAW)
Gallery: Ustream Screen shots
The application can be downloaded at this iTunes link:http://itunes.apple.com/WebObjects/MZStore.woa/wa/viewSoftware?id=301520250&mt=8