I thought it would be nice to have a thread of successfull streamings to the Nokia 770...

I succeeded in streaming live audio from my PC today using the following settings:

Video: none
Audio: line in (From radio)

Output method: HTTP
Encapsulation: WAV
Transcoding, Audio: MP3, 64 kbps, stereo

To receive:
- Open AudioPlayer
- Select Playlist->Add Stream
- Enter http://<server>:<port>

Bitrates tested OK: 64, 128, 192 kbps

VLC used: 0.8.4a on WindowsXP