I’ve been experimenting with video and Second Life for some time now. I typically use Ustream or Veodia. I use a software webcam and a SL-based multiple camera tool to broadcast our events and these web-based services allow us to reach new audiences both live and by recording the events for us. What tends to happen is that although the streams are not necesserily very high quality, videos tend to end up on YouTube etc. anyway so no point in recording them at very high quality in the first place.
What Veodia offers extra which is pretty cool, is that it encodes in Quicktime (.mov) format, which is what SL supports for video, so you can relay your event live into SL or the recorded show later on for people to watch. This means you can get some funny infite loop effects if you stand in front of a screeen you are also projecting on.
Was just talking to Tom Blossom from Veodia in SL whilst he was projecting his live webcam… Neat eh! 🙂