My standard “rig” for webcasting is as follows:
Hardware: iMac G4 desktop with 1Gb RAM, Logitech USB desktop Mic
Software: Nicecast (for broadcasting and recording), Audacity and Garageband (editing), Skype (conference calls), iTunes (music broadcasting via Nicecast)
The above rig is what I have found the most dependable to date. Even though my Mac has fairly good system specs, I find that it still tends to struggle when running Skype and Nicecast simultaneously. Using the web-based Skypecast facility definitely helps to reduce the load on system resources.