Qik For iPhone, Sort Of

"Qik users hoping for an official iPhone app can finally rejoice-as long as they have an iPhone 3GS. Other limitations sour the experience, though, and live streaming is still a pipe dream."

Qik has finally brought an app to the iTunes store,  but it only works with the iPhone 3GS, you can only upload via Wi-Fi and you can't stream. So you have the integration with Twitter, Facebook and YouTube, but not having streaming would really hamper it in my opinion. Isn't that the benefit of using Qik? Has anyone out there used Qik with other devices and think lack of streaming is too big of detriment in the iPhone version to be useful?