I've been having a play with the Sonos 4 software real time multiband processor for broadcasters (unrelated to the multi room audio system as far as I know).
While I wouldn't run it on the same machine as PlayIt Live, it produces a "processed" stream to an Icecast or Shoutcast server which reduces the dynamic range of the source material.
Without starting the debate on the merits of audio processing this is an application that some will find useful.
Now available for free from the developers site at:
Probably worth a download and a play if your setup has an independent streaming machine (it seems fairly processor intensive).
Sadly now no longer free from the developers site.....