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Major League Baseball is releasing an ambitious new product today, which we were the first to tell you about in April: Live video streaming of out-of-market games for Apple’s (AAPL) iPhone and iPod touch. Previously, you could listen to live radio broadcasts and watch live game illustrations, with in-game video highlights. Now, you’ll be able to watch the whole game. Assuming it works, this is an awesome development for any baseball fan.

This will go live as part of the “3.0″ version of its $10 At Bat 2009 app, which means you will need to upgrade to Apple’s iPhone 3.0 software first. Apple is rolling that out today.

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