Installation of icecast is pretty simple:

- Run configure, with --with-libwrap --with-crypt, if you want tcp_wrapper
  and crypted passwords (or either).
- Check the Makefile and see that it looks ok to you. Add optimization flags
  for your architecture to the CFLAGS entry if you want better performance.
  (default is probably fast enough though ;))
- Run make
- If you want, you can do 'make install', which will (by default) copy icecast
  binaries, templates and configuration files to /usr/local/icecast.
- Edit icecast.conf 
- Run icecast
