How to get your Podcasts out of iTunes into Instacast?

If you have subscribed to a bunch of podcasts in iTunes and you want to get them all in one batch into Instacast, there is now an option for that in Instacast 1.2. All you need to do is export your subscriptions from iTunes

To get the podcast subscriptions out of iTunes:

Make sure you have 'Podcasts' selected in the iTunes source list
Right-click or Cmd+Click on the 'Podcasts' source item
After selecting 'Export...' from the context menu you will get a save dialog with an option to choose where to save the file, the name of the file, and the format.
Change the format to 'OPML'
Change the name to 'Subscriptions.opml'
Click save

You have two options to get the subscription into Instacast:

Email the OPML file to youself. On the iPhone tap and hold the email attachment and choose "Open in Instacast"
Save the file into a folder called 'Instacast' to your Dropbox account. In the list of subscriptions in Instacast, tap on the action item in the lower right corner of the screen. Choose 'Import from Dropbox'.