KoalaSan let's you broadcast your own Internet radio stream from your iOS device, and comes out with Audiobus support!
KoalaSan iTunes Description:
KoalaSAN allows people to broadcast to Icecast 2 servers in few steps. It can capture the device internal microphone and supports AudioBus (so you can use other applications as a sound source). It supports Ogg Vorbis and Opus audio codecs.
KoalaSAN can also save your audio stream on the fly, which you will be able to transfer via iTunes or on your Dropbox account.
Please, read a full FAQ at http://koalasan.net/faq/
This will be an especially big deal among DJs, who will often have their own private Shoutcast/Icecast stream. Now the same functionality, popular in the PC/Mac version of Traktor, will be available to all iOS apps that support Audiobus!
The video of the prototype was pulled because it mentioned features not in release. Have a baby koala instead, starts at 0:40.