Aaron Swartz wrote How to Do Live Streaming and writes, "That’s right, you’ll never have to muck with any of those large monolithic lets-invent-a-standard products again!"
then goes on about esound this and speexdec that. If you don't need special output, or don't have control over the client (which is given for an application like standard Internet radio, except now you have to.. you know.. keep track of all the songs you play if you want to do it legally), this doesn't beat Shoutcast. It took me only a few minutes to set up Shoutcast to relay for someone, and I've done it several times since then by just starting the application (since his IP hasn't changed).
Admittedly "large monolithic lets-invent-a-standard products"
sounds more like Real than WinAmp, which uses common if not open standards.
But his directions for using CVS look good. I may have to look into running my own CVS for my personal projects, instead of the usual half-assed versioning type crud I do. (I do use CVS for Fuzzball MUCK, but then, I have to; I don't use it for my personal projects.) I look forward to anything he tells us how to do.