Sharing iPhone/iPod touch videos with friends and family is now a reality thanks to the new Socialcam app. Created by the folks behind Justin.tv, the app makes sharing video from your phone as simple as uploading photos to Facebook.

Socialcam, which just came out of limited beta, it lets you post videos of unlimited length. These can then be shared using Facebook, Twitter, e-mail, and SMS.

Unfortunately, the new app requires Facebook Connect, which is currently the only login option available. Hopefully, this limitation will be corrected in a future update.

Socialcam presents a list of Facebook friends also using the app, which a user can “follow.” Once this is done, the app allows users to upload new videos, and also see what friends have posted.

Because of its Facebook integration, Socialcam videos are also available to users not using the app. As videos are uploaded, they show up on the user’s Facebook wall.

In a word, the app is great. I found it easy to use and fast too.

Socialcam hopes to do for video what Instagram did for sharing photos, but it does have competition. Already, Path allows video uploads, but with length limitations. Other developers will likely roll out similar video sharing services in the months ahead too.

Be sure to check out the Socialcam promotional video located here.

The free Socialcam app is available in the App Store.