I'm happy to help you get streaming from Media Encoder to your Windows Mobile device.
The trick that I found to easy streaming from media encoder is to trick the p[hones media player into thinking that you are sending an .asf file and not just a live stream.
Setup Windows Media Encoder to stream your audio (or audio and video) at a bitrate that your device can handle. Audio can be streamed at a really low bitrate, but I prefer to use at least 20k for audio. (Gives a better sound) For your output select an unused port(Pull from encoder). I like to use 8085.
If you have a router or firewall open it up to allow for connections to port 8085 to the machine that is running the encoder. Check that your stream is working from a PC first by using media player to connect to your external IP address (You can use dyndns or similar) If your IP is 55.66.77.88 then have media player connect to
http://55.66.77.88:8085. You should see or hear your stream.
Once you have confirmed that you can stream to another PC outside of your local network you can then try to receive the stream on your Windows Mobile device. If you use the same address you will see that it does not work.(Parameter is incorrect) The trick that I found works (at least on my Sprint Diamond it does) is to add to the address: stream.asf
So from your mobile device try accessing
http://55.66.77.88:8085/stream.asf
You should now be hearing and or seeing your live stream.
If you only are after the live streams available here, use GSPlayer.
