To answer my own question here, it seems I was still using RMC 3.0.0, and it turns out 3.0.1 was released a few weeks ago.
I'm not quite sure why the auto-updater feature didn't work for me (I have preferences set to check for updates on start-up, but apparently it didn't work?). So I checked my e-mail, and a notification from Applian got caught in my Yahoo! spam filter the other day (gotta fix that).
Anyway, I just tried 3.0.1 with ustream, and after tinkering with settings (namely, activating the web stream dumper) it seems to work fine; no stopped recordings after 1.5MB. So thanks, Applian!
PS nevermind: some of the streams DO record, but not all: it's hit and miss, as some stop after 2.0 MB....
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