I know we've had some good threads posted about recording your piano.

This time however, I'm interested in what equipment one would need to stream between a student and a teacher in different locations.

I've had a couple of pianist/teachers ask about doing this. They happen to be at the level of teaching master classes, but I don't think that is relevant.

The thought is to use Skype, but the question remains...
What basic equipment would be needed to stream (live) video and audio of an acoustic piano, between the student and teacher?

Keeping in mind the quality needs to be fairly good or it won't work.

Ok all you experts, feel free to chime in now :-)

Not claiming to be an expert, but I took some lessons via Skype about 2 years ago.
The only equipment the teacher used was a webcam with a built-in mic, and a laptop sitting on top of the piano, with earbuds. I had a similar setup but was using a digital piano and a microphone hooked into a mixer going to the sound card input of my desktop computer, and a regular set of headphones.
We each had a DSL internet connection.
Personally, I thought it was marginally acceptable, as the sound was a bit jumpy and the video would occasionally break up. Plus, there was a little latency, so trying to play at the same time (i.e. duets) didn't work.
Not being an expert, I don't know what the problem was, but maybe others have had better luck.

Not sure if this is actually useful information, but some international competitions use Yamaha's player piano system to do auditions, and I think I read somewhere that the MTNA also had some kind of lesson with those, over the internet.