Ustream is great however it does have ad's unless you pay to remove them. If you are just going to do say one broadcast a week and its just you then Ustream would be the best option, however if you plan to make a radio station then I suggest going with ShoutCast.
If it's some sort of professional service, Flash Media Server would provide it well, though it comes with a large cost. On the other hand, even radio professionals use UStream/JustinTV, so there is nothing wrong with that either and with the right designs on the pages + webcam features, you can make it look as professional as a private service.
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