Yahoo! Live goes live

I know it's old story now but I thought of posting about. Yahoo! Live is cool, I can see some interesting live channels.
The main Yahoo! Live application is done using Adobe Flex and using the power of the Flash Platform. Well do they have any better choice to do video/audio on web ? ;-)
Just wondering, how Mogulus and UStream are taking this news?
BTW! Does Y! Live filter f*** word in chat or voice-chat? I was on one of the channels and heard (beep) it getting filtered? If yes, how is audio-filtering happening in real-time?
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