Yes, you read it correctly! You can now have access to any and I mean any video on youtube or any other flash video based website. There is no longer a need for converters or portals like m.vtap.com or the youtube mobile site. Forget them all!
Update: Forget all of this, just look up this post. It is a fully featured YouTube client with no effort involved.
Update: RotateMe wizard Samir has meanwhile released a Youtube player that lets you search for youtube videos and playthen directly on the phone. There’s just one glitch …