I have a good way.....
Get FIREFOX. It is way better than IE for sure...
Anyways, once you get firefox, you can have a BOOKMARKS TOOLBAR FOLDER. It should come up above your tab bar.....
Add this bookmark to the BOOKMARKS TOOLBAR FOLDER:
javascript:if%20(document.getElementById('download-youtube-video')==null%20&&%20!!(document.location.href.match(/http:\/\/[a-zA-Z\.]*youtube\.com\/watch/)))%20{var%20yt_mp4_path='
http://www.youtube.com/get_video?fmt=18&video_id='+swfArgs['video_id']+'&t='+swfArgs['t'];%20var%20div_embed=document.getElementById('watch-embed-div');if(div_embed){var%20div_download=document.createElement('div');div_download.innerHTML='<br%20/>%20<span%20id=\'download-youtube-video\'><a%20href=\''+yt_mp4_path+'\'>Download%20as%20MP4</a>%20'+%20%20((navigator.userAgent.indexOf('Safari')!=-1)?'(control-click%20and%20select%20<i>Download%20linked%20file%20as</i>)'

'(right-click%20and%20select%20<i>Save%20'+%20(navigator.appName=='Microsoft%20Internet%20Explorer'?'target':'link')%20+'%20as)</i>'))+'</span>';div_embed.appendChild(div_download);}}void(0);
Now when you go to YouTube video, click the Bookmark in the toolbar. Under the EMBED part of the decription, a link should come up in BLUE and underlined, like a link should be. it should say, DOWNLOAD AS MP4.
Now right-click on the link and select "Save Link As". Now when choosing the save location, save it to say, My Documents or wherever, but save it as the filename, then .mp4 at the end. If using Vista, change the "Save File Type", to all files.
I know it sounds like alot of work, but beleive me, it is way worth it, you can download the videos quick as with no conversion, no quality loss, then import staright in to iTunes or to iPod. Hope this huge load of crap helps you man....