I’m actually quite intrigued by this simply because it could be a great way to put out “breaking news” at shows or events. This is nothing new: you take some video or an image and it pops up in a Cellblock window almost immediately after sending, without transcoding or other nastiness.
The service uses a standard email address – presumably you could just email content from your desktop, but that wouldn’t be any fun – and posts content immediately on receipt into an embeddable player.
The upload was, in fact, instantaneous with nothing to do on my part. The real value could in in live-blogging events for immediate broadcast, but that’s a limited application.
For a bit of fun, however, give it ago. You don’t have to add your own cellphone number unless you want the enhanced version, so it’s relatively safe.
UPDATE – Not sure why there’s no audio.
UPDATE 2 – Just realized that you, too, can livebloggogogo! Email firstname.lastname@example.org and rock out!