Specifically, I want to stream a live audio input from VLC (i.e., I can change and skip around audio files on the fly). Is such a thing possible? The Streaming/Exporting Wizard has me baffled, though.
Well since VLC stands for Video LAN Client, which currently has taken on all the capabilities of their deprecated VLS (Video LAN Server), yes you can ;-) I will refer you to their wiki for information on streaming http://wiki.videolan.org/Documentation:Streaming_HowTo