I just talked with Michael Smith alias "Vakor" at #vorbis, who is one of the Icecast (Vorbis streaming server) developers (
http://icecast.org/).
"There's not yet streaming server which supports Vorbis bitrate peeling (adaptive bitrates for listeners). The design makes it possible to do proper adaptive bitrates for listeners, but current streaming servers don't do that yet. Support for that should come reasonably soon after vorbis 1.0."
Anyway, when available, Vorbis bitrate peeling will be more efficient than Real's SureStream. What RealServer does is that it dynamically changes the stream that a listener is listening to, based on available bandwidth, to one of several versions at a variety of bitrates. Vorbis' bitrate peeling allows much smoother bitrate modification: there aren't any different ready made streams like in Real's case. Vorbis streaming with bitrate peeling will adaptively scale the original stream's bitrate based on the available bandwidth.