qik.com

From a technology point of view this is cool, you could imagine using this for concerts, protests, stalkers and so on... and that's what they need to make it big, a tragedy, an event that will only have been recorded by a Qik user and that make the news or simply a big lawsuit.
At the moment it's full of clip of people testing the service or geeks.
It will be interesting to see how they will manage the growth, more servers and 100% up time will be needed and this is before possible copyright and porn issues.
As for the service, do people really need it? I am sure this will lead to some interesting story telling exercises or art pieces but it will also lead to some shit videos too as the editing process is removed. Worth keeping an eye on.. http://qik.com