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My System For Getting Things Done [Strategy for 2010]
If all your videos are hosted on You Tube and for whatever reason they decide to cancel your account... (and trust me this does happen, usually without warning or explanation), you'll lose all your video content in one hit...potentially months of work.
From what I've heard you're much safer hosting your precious video content locally or using a third party such as Amazon. Yes, you may pay a little but at least you'll have a lot more reliability, security and peace of mind. I guess you gotta ask yourself what is your video content and the traffic it generates worth to you??
Sure, distribute your videos everywhere you can, but personally I'd go with paid hosting (albeit very cheap) to offset the potential risks.