I recently had the chance to try out YouTube vs. Google Video as a video publisher. I had some clips from the Tour of California that I wanted to put online and my DSL doesn't do the best job hosting video.
It's hard not to notice the rise of YouTube. It seems that everytime I see a video link I end up on that site and they certainly seem to have the attention of NBC, which is sending cease and desist after cease and desist for SNL videos (is SNL officially no longer lame?). I've run across Google Video much less frequently. I wasn't sure if this was due to laxer policies on the part of YouTube in allowing content like Oscar clips or if YouTube was superior in some manner.
I believe I now have the answer: YouTube is far, far superior. Google Video does have a better video uploader, but that's about its only advantage. For my test I uploaded the same Tour of California clip to both services. Google Video took over 24 hours to 'verify' the video. I still have a video that I uploaded on February 21st (two weeks ago) that is in the 'verification' process. Time it took YouTube to post my video online: instant. 24 hours is just a mind-boggling long time to have to wait, let alone two weeks. As far as I can tell, Google Video doesn't even tell you when your video is ready, so you have to keep revisiting your video status page.
YouTube also has three features that Google Video does not: tagging, commenting, visitor counting, and rating. I don't care much for ratings, but tagging makes it easier for people to find my videos, commenting is nice for feedback, and visitor counting tells me whether or not it was worth my time even posting the video.
Both services seem to degrade the quality of the original video. The cycling videos I uploaded weren't of the greatest quality as they were shot with an ELPH, but they were definitely more intelligible than these:
Nevertheless, if you don't have to server to host the video and you want to get the video online to share with others, I highly recommend YouTube as the route to go.