For my "rig" I've been using a Dell Latitude D800 1.50 GHz laptop with a Pentium M processor and 512 MB of RAM. I've also used a USB microphone and wireless (802.11g) internet connection.

For software I've used SAM Broadcaster, Virtual Audio Cables / Audio Repeater, Skype and Audacity for streaming, recording and post-production of audio. For me the biggest hurdles to overcome have been getting audio settings as they should be so that "both sides" of the conversation can be heard over the stream, "issues" within Skype and post-production itself.