I like this idea, like Youtube, the developers of the divx codec have got a social video site that has full dvd type quality movies... for those with broadband2 (ie ADSL2) it works pretty sweet.
Perhaps Google, having now purchased YouTube, might consider a part of YouTube for high quality video with their massive bandwidth. It is one of the things that currently sucks about Internet video - watching crappy quality in little square - when I can turn on my TV and get a nice large good looking picture (even if in reality it is fairly low resolution... unless you have a HD-TV of course).
From CodeMonkey Blog
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