VLC live streaming?

Tom Lassiter <[email protected]>
Newsgroups gmane.comp.video.videolan.vls.devel
Message-ID <a05200f00baaf9e31f2c7@[192.168.0.196]> 
Can VLC stream live video & audio? I can't find any preferences that 
allow for live video or audio inputs.

I am especially interested in the Mac OS X version.

Many thanks for any help.

Tom
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