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I used to use Traktor with the built-in IceCast (open-source version of Shoutcast) server functionality. Well, I used it as a source for an IceCast server that I ran on my computer.
If you want to run a server off of your own computer, you have to have the bandwidth (how fast your Internet connection is) to support it. For example, if you set the encoded quality at 64KB/s, your connection has to support 64KB/s * number of listeners.
I may be paraphrasing information you can find online, but basically, there are two things you need:
server- program that broadcasts your stream (on a particular IP address and port) and;
client - program that connects to the server, usually the source of your audio.
The downside to IceCast is that it encodes in Ogg/Vorbis format, which some media players do not support out-of-the-box.
In any case, there is a program called OddCast (http://www.oddsock.org/tools/oddcastv3/) that you can use as a client. You can use it to stream from your soundcard (eg. Line In), and last time I checked, supports many popular formats.
Good luck!
/computer nerd in hiding
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