The two biggest challenges that were required to install the alpha version, requiring you to edit PHP code to add your streams, and creating a custom page within your template, have been removed. You can now add your Lifestream items in a friendly options page and invoke the stream either in a custom page or widget with one PHP command. So it should now be a fairly simple matter to get it installed and running.
As he continues the development effort of his plugin,Â he urges people to submit comments and feedback for upcoming versions. If you run WordPress you should give this plugin a try.