All of my friends hate the flv format that Youtube and other social video sites such as dailymotion and break use to show video content on their websites. Most download managers, like the Firefox extension Video Downloader, offer the flv files as downloads which most multimedia players do not support at all. You could add a flv plugin to add flash video support to your media player but there is an easier solution to this.
The website viddownloader converts the videos to avi before it displays a download link. This is probably not the most elegant solution if you want to download hundreds of videos but it works fine if you only want to download a few videos. You supply the url of the video that you want to download and viddownloader does the rest automatically and displays a download link afterwards. It supports the following sites at the moment: Youtube, Break, Dailymotion, Myspace and Pornotube.
The conversion took just a few minutes and depends on the length of the video mainly. Not sure if video conversions are queued or how viddownloader handles several requests at the same time. Download speeds were fine as well. I was able to download with about 100K which is ok for videos of that size. The flv video was about 7 megabytes in size while the converted avi was almost triple that size with 19 megabytes.
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I have to say I tend to download the flv first then use online converters such as Zamzar to change the format. :)