Wordpress (the blog system) has launched Videopress, their New Video Sharing Service. Features include automatic sd/dvd/hd quality conversions, automatic video podcast conversions, and other goodness. Very sexy looking little system. The only fail I found so far was hitting the 'hd' button doesn't continue on from the current location in HD (like youtube) but rather restarts the video in HD.
Still, a very minor thing, and a very cool looking service.