Hmmm. Wouldn't this get you in trouble with the RIAA bloodhounds, since it's effectively a way to overcome the iTunes streaming limitations and set up your own Internet radio station?
The site says:
"One-Click Broadcasting Of Any Audio On OS X"
"Nicecast allows you to broadcast any audio, from any application, out to the world."
"broadcast your music for the world to hear"
Has the whole Internet radio royalty mess been worked out yet? You wouldn't want to put a stream up and get hit with a bill....🙁