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Submission + - Live webcasting on a shoestring?

seaton carew writes: What recommendations do Slashdot readers have for setting up a cheap live outdoor video webcast? Budget is £50/month. :-)
I already have a decent quality (analogue) audio/video feed. I'm looking for pointers on:
1. Encoding: QuickTime, Helix or WindowsMedia? Open source??
2. Uplink: no WiFi. One possibility in the UK is T-mobile's web 'n walk card (£17/month for 385kbps). Anybody tried this solution with streaming media?
3. Hosting: Plenty of commercial options out there. What I need is cheap.

Quark! Quark! Beware the quantum duck!