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As others have stated: it all depends on the capture device you are using on the computer doing the live streaming. We use our HMC40 for all our live broadcasts (www.BeThereIsrael.com) and use a very cheap and simple composite to USB capture device. Since we usually have to rely on a cellular internet connection, the quality of the actual broadcast is less than the quality of composite video, so there would be no advantage to using component or HDMI going into the computer. That is all a matter or your internet connection speed.
Besides the camera, what are you planning on using to do the streaming? You can use a hardware solution like the Teradek Cube, which will take HDMI and send it straight out the servers without the need for a computer, but it's not cheap and I don't know that it works with UStream. Otherwise you need a computer, a capture device and the software to broadcast (usually provided by the CDN: Ustream, LiveStream, etc)
We use a really cheap capture device running on a newer MacBook Pro carried in a hip-pack for our "lite" rig, and an Edirol video mixer, running into a Canopus ADVC100, running firewire into a Mac Mini for our multicamera rig. For the multicamera rig, we have long Mogami cables that run out to the cameras that carry the video and audio from the camera as well as two-way communications for the operators. We use LiveStream Premium and have been very happy with their technology and especially their customer service and support.