Eh, I stopped using Xsplit and went with the good old VH many cam driver. Free and it works very well. I simply will not, ever, not even once, buy software where they gimp the free version so that I can't properly test it; for all I know the problems I had with Xsplit would not be solved by the full version. I don't mind a timed trial and am certainly willing to pay for good tools, but I need to actually be able to test them myself first.
So my set-up now is VH many cam, Adobe Flash live media encoder, and then it just goes directly to twitch. This seems a LOT faster than the Xsplit tool and also has the virtue of working properly etc.
I am also trying to find a good pugin for Wordpress that lets me show when my stream is on and when it isn't but so far it doesn't look like any such thing exists for Twitch, whereas with ustream it does. I'm sure there's a workaround but I need to sort it out.
Edit: I managed to sort it out. I used the embed code from the twitch tv site combined with a widget that would let me run code and now my blog displays the stream automagically. Yay for a totally free (albeit slightly complicated to find initially) set-up that saves videos, lets me stream easily, etc!
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