Howdy,
When YouTube allowed for uploading of content longer than 15 minutes we decided to migrate our web TV content to YouTube. It's cheaper (free actually) than storing the flv/h264/WebM files on your own server (or Amazon S3 as we used to) and YouTube does the conversion.
By help of the module Video Upload I added a field to the om_show content type. It allows the user with permissions to upload a video file to YouTube when adding/editing a show node, and have metadata such as title, description and tags to be synched. The YouTube video is then embedded on the show page and the YouTube thumbnails can be used too.
It required some tweaking, which I could write more about if there is interest. But my main reason to write this now is that today we suddenly no longer had the possibility to upload longer videos than 15 minutes... Oh no! But fear not... We'd had two videos blocked (because of music rights), one that I had removed and when I removed the other it seems like we again got the permission back! I hope it's as easy as that...
It's good to be able to use YouTube for checking music permissions on videos submitted by our users. Easy enough to remove them if they are blocked (I hope).
Our site is www.okv.se/play. If anyone would like to know more details about how we use YouTube in our workflow, let me know and I can give further details!