Second verse, same as the first. Nintendo's conference goes live at 9 Pacific /12 Eastern, followed by Sony at 11:30 Pacific / 1:30 Eastern. Gamespot, IGN and G4 (Nintendo, Sony) all have streams. 1up and Nintendo's own website have them as well, and Justin.tv appears to be mirroring G4's coverage and running smooth. G4 will show show both live on TV, and the usual suspects are liveblogging.

Your best bet is watching it on TV or through IGN, and maybe Justin.tv. G4's stream stuttered and Gamespot was hammered to the point of inaccessibility several times before Microsoft's show actually began. IGN's feed was a couple minutes behind, but it was smooth. G4's live coverage on TV was the best of the lot, with the whole show playing uninterrupted and hitch-free. I don't know what the quality of 1up or Nintendo's feeds will be, but (I think I recall Nintendo's working last year), but surely to God out of all of these options you can find something.