Sony Media has created a really cool site for sharing live material (audio and video) over the Web called Screenblast. Check it out! Imagine combining this with a scalable distribution and one cool online TV channel (Jeremiah are you reading? ;-).
On the subject of video on line I just found some links about Video Blogs. Why limit ourselves to only text? I have a camera in front of me all day anyhow? You don’t want to see me? Tough luck!