Well we have a great release here. Dev AlienMind has given the world a YouTube video client for the Nintendo Wii. This is based on the popular open source multimedia player MPlayer. This application will either let you watch streams from the site or let you download them first then watch them. Obviously as this is the first release, it is a bit slow so it's best to save the video's to play them. to use WiiTube, you must configure "mplayerwii.conf" file located in the archive. Here is an example of a playlist. Notice that the youtube_cache is set to "1" which will download the video first before playing.
All I can say is what a great release. I will be sure to keep everyone updated on further releases and updates of this. To use this dump the contents of the zip straight to the root of your SD card.