The rumors were true, YouTube is experimenting with Live Streaming.
Sure, YouTube has had live stream events in the past, but these were very limited to special events streamed by YouTube directly. Now, YouTube is going for a UStream/Justin.TV type service.
The problem? The feature is currently only planned for Partners, and YouTube says that they are going to slowly roll-out the feature throughout the year. Even as Partners, the feature isn't guaranteed to be available, especially if your account has had any strikes against it.
This is a feature I would personally like to try out, but of course, I don't have access to it.