Regular YouTube videos do (I believe they use HTML5 for video)...but their streaming feeds are apparently flash based...which will not work on iOS devices. I've tried the youtube.com/live URL and can't get any of the feeds there to load (but I can view any other normal YouTube video). I get a slashed-out play button when viewing a live stream YouTube window on Americascup.com or an eternally spinning "loading" icon on the YouTube live site.

So was the match racing good? I was really interested in seeing how that worked out.