Ustream has made plenty of improvements and would be the better choice to use over Livestream because of some important difference:
Livestream limits to 10GB, and keeps deleting our videos because we're over the limit.
Less annoying ads (doesn't interrupt entire stream, and more easily blocked)
Improvements in their player
The livestream isn't loading for some people, this isn't HD related because it doesn't work for them on the livestream.com page either
Ustream has since created a desktop broadcaster, so we don't have to use their buggy website anymore:http://www.ustream.tv/producer/download/windows/1.0.1
I'm making the switch back.
Username/Password is the same.