I noticed recently that the Windsor Star switched from hosting their own videos to using YouTube. I think this was a very wise move on their part. Leveraging social media can only enhance the product offered, not to mention using Google's bandwidth instead of your own.
One thing I would suggest for the Star, and any others using YouTube, is to add a link back to any related stories or content. You can add a link in the Video info simply by posting the URL (no html is allowed). If your URL is too long, use a service like TinyURL.com to shorten it.