Ive never heard of this GDC conference and never seen it. im only interested in it this year because of the Battlefield 3 footage we're gonna see. 
 So does anyone know where we can watch it ? is it broadcasted on all major video game websites like the E3 ?

I'd like to know if/where it can be watched online, too!
 
Highlights of the GDC (for me, at least) will be potentially new 3DS game announcements, NGP information, iPad 2, and SWERY will be giving a conference on game design.
I really want to see that last one.

I saw that gamespot will have live shows on thursday and Friday, I'm not sure what the content will be, but start there. As for the conferences, i would say just visit the big gaming sites once a day for the next few days (gamespot, ign) to see what they have. The panels will probably be much harder to find, especially the small ones. Your best bet would be to go to the website the panel represents (Like the Penny Arcade Panel might be on the Penny Arcade website.) Giantbomb might live stream theirs, or at least archive it. 

Most major video game websites cover GDC but this isn't like E3. E3 is a purely commercial event, GDC is mainly focused on the actual development behind games.

" Most major video game websites cover GDC but this isn't like E3. E3 is a purely commercial event, GDC is mainly focused on the actual development behind games. "

I'm positive Giant Bomb will do some coverage of it.

" @pornstorestiffi:  Considering how much it costs to get into GDC, I doubt that they want the panels getting out there. It's not meant to be a public facing event. "

GDC isn't like E3. It isn't for the public, and it isn't for game announcements/trailers/information. A few things might get announced or shown off, purely because all the games press are in one location for a few days, but primarily it's for game developers to discuss game development and design. That's why it's called the Game Developers Conference. It's kinda like a bigger and somewhat more public DICE - but it's still focused on the developers and not the press or public.

" I saw that gamespot will have live shows on thursday and Friday, I'm not sure what the content will be, but start there.  "

" As for the conferences, i would say just visit the big gaming sites once a day for the next few days (gamespot, ign) to see what they have. The panels will probably be much harder to find, especially the small ones. Your best bet would be to go to the website the panel represents (Like the Penny Arcade Panel might be on the Penny Arcade website.) Giantbomb might live stream theirs, or at least archive it.  "

I just wanna watch Swery's talk.

" GDC isn't like E3. It isn't for the public, and it isn't for game announcements/trailers/information. A few things might get announced or shown off, purely because all the games press are in one location for a few days, but primarily it's for game developers to discuss game development and design. That's why it's called the Game Developers Conference. It's kinda like a bigger and somewhat more public DICE - but it's still focused on the developers and not the press or public. "

It's not in video format, but Gamasutra is updating press releases pretty consistently http://gamasutra.com/gdc2011/