Lifestreaming as you probably know already, is basically the real-time flow of your online activity across various websites.
Although video below mostly talk about Microsoft Windows Life, that will soon add lifestreaming capabilities, the presentation from CommonCraft explains the concept of Lifestreaming in plain English.
I guess lifestreaming is getting more and more important. You can also notice that there are plenty new WordPress themes out there aim to integrate lifestreaming to personal blogs. Moreover, if you want to have a self hosted open source lifestreaming app, you might want to try Sweetcron.
I myself prefer integrates my own lifestreaming using websites like Dipity, Friendfeed or MyBlogLog and read its feeds through my feed reader.
