I've finally been inspired to work on some new software.
I read about 'Tubular,' which is a Mac application that acts as a 'client' to YouTube, enhancing the experience. I was interested after hearing the features that it offered but was disappointed not to find a Windows version, much less a free version for any platform. So, I started coding my own. ;)
I'm planning on using ffmpeg for conversion of the YouTube videos. So, it will offer a tremendous amount of compatible file formats, including those for portable devices such as the video iPod and the PSP.
Anyway, I've put a few hours into it and got the following:

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