newbie wants to know best way to stream audio

I have been doing a podcast for over two years now. I would like to do some internet radio broadcasting now.

What is the best way to accomplish this?

I am currently looking at using Quicktime Server to stream audio that way. Is this the best way? What are my different options? Can I stream directly from my computer, with a T1, or do I need a hosting plan? What is a good one?

You can try to use freeware stream broadcasting software like IceCast.

If you broadcast a 128kbps stream to 5 users simultaneously, then your bandwidth should be at least 128 * 5 kbps. So make sure you have enough of bandwidth or get a hosting plan that will be able to handle the amount of users you need.