Adobe has announced the immediate release of the Flash Media Encoder (FME), a Windows desktop tool which enables users to broadcast live Flash Video using On2's VP6 codec (something that the Flash Player is not capable of at this time).
Previously there had been no other *free* tool available to accomplish this task. Flix 8 Live was the only mainstream tool to date that allowed live VP6 encoding (high end solutions from Digital Rapids aside) and this retails at USD $1,000 per year.

Live Flash Video applications and events will take a huge step forward this year, with the Amgen Tour of California (the race I believe is now over) being one of the first to step up to the plate. In this Flex application, Adobe has created a rich media interface mixing video, map data and race data, and leveraged Akamai's Beta Live Flash service running with the VP6 codec from On2.
Akamai's Live Flash service is currently in closed beta, but it has been serving about 4 Gpbs to up to 8,000 concurrent users. Not bad for starters.

FME Download
FME Release Notes (PDF)