Watch iPad live or iPhone Live -- and chat! -- with Duet Browser for iPad!
Ustream.com works on the iPad natively now. You can use "Duet Browser" to pull up the live stream in one pane, and pull up the chatroll in another. Here's a screenshot from tonight for reference. There's a free version, but I don't know the limitations.
Check out the picture up top and if you try it out, let us know if it works for you!