gstreamer allows you to stream video with very low latency – a problem with VLC currently. The catch is that you need need gstreamer on the client used to view the stream. gstreamer is a development framework not a media player and there isn't a way to stream so that common players such as VLC can display the stream (without users having to install complex plugins). So, gstreamer can provide an excellent low latency video link, which is great if you are techy enough to set it up at both ends, but its no good if you want to directly stream so that Joe public can see the video on a web site for instance.
Setting Up The Raspberry Pi To Use gstreamer
You need to edit the sources.list file so enter:
sudo nano /etc/apt/sources.list
and add the following to the end of the file:
deb http://vontaene.de/raspbian-updates/ . main
Press CTRL+X to save and exit
Now run an update (which will make use of the line just added):
sudo apt-get update
Now install gstreamer
sudo apt-get install gstreamer1.0
To Stream The Video From the Raspberry Pi
Enter this on the command lne:
raspivid -t 0 -h 720 -w 1080 -fps 25 -hf -b 2000000 -o - | gst-launch-1.0 -v fdsrc ! h264parse ! rtph264pay config-interval=1 pt=96 ! gdppay ! tcpserversink host=YOUR_RPI_IP_ADDRESS port=5000
Change YOUR_RPI_IP_ADDRESS to be the IP address of your RPI.
To View The Stream
There's a lot of resources around for this. Seems to be pretty easy on Linux, OK on a MAC and harder on Windows. Apparently streaming from RPi to PRi works really well.