This is great news for anyone looking for a desktop encoder which facilitates live VP6 video: Adobe have just released the public beta version of Flash Media Encoder (FME) on Labs.
FME, which is Windows only, is ideal for live event broadcasts as it adds VP6 support to live Flash Video - something which the Flash Player itself is not capable of (it only supports Spark for live encoding). The only other option to date was a tool by On2 called Flix 8 Live, which retails at around $1,000 per year. FME on the other hand is.. wait for it... likely to be free!
Says Adobe: "The intent is to make the Flash Media Encoder available as a free download for customers with a valid Flash Media Server license or FVSS account."
And then: "The Flash Media Encoder beta gives technical producers the chance to create live video broadcasts using Flash. It's targeted towards those users who have a camera hooked up to their computer via USB, Firewire or via a capture card such as an Osprey or Digital Rapids card, and want to encode and stream captured video into the Flash Media Server (FMS) or Flash Video Streaming Service (FVSS)."

So to sum up: FME allows you to encode live Flash Video (not pre-recorded material, there are other tools that do that) using VP6 and it is likely to be free if you are a FVSS customer or own a FMS license.

I'll try and get my laptop rigged up and put a sample feed up later today. I've already had a chance to test the tool and it's more fully featured than On2's offering.