Finally found some really cool software.
web cam software for video chat with webcam. This program is completely free and has some nifty effects, such as text going along the screen wherever you position it. The good thing is, it works with ustream, too.
Not sure if it will capture my screen in real time -- I'll have a good scan tomorrow.
Another program I have found is this one:
web cam software for video chat with webcam. I haven't tried it yet though so can't comment on it.