Did you read this in YouTube.com’s new terms of service?
…by submitting the User Submissions to YouTube, you hereby grant YouTube a worldwide, non-exclusive, royalty-free, sublicenseable and transferable license to use, reproduce, distribute, prepare derivative works of, display, and perform the User Submissions in connection with the YouTube Website and YouTube’s (and its successor’s) business… in any media formats and through any media channels.
What have we learned here?
Own your own content. You might have to pay a few bucks for hosting but, people, own your content.
Prediction: More fine print reading in the new few weeks that will lead to some more interesting “findings.”