Limitations:
Trial version will convert only the first 30 seconds of a video
Editors Note
YouTube video clippings can be downloaded, converted, and copied easily using this program. Videos on YouTube can be played directly by copying and pasting the YouTube URL in this tool. You can playback YouTube videos and save the videos to your iPod or system. Videos can be added to iTunes and converts YouTube's FLV file format into MP3 or MP4 files.