Yeh, that is getting much closer to what I am looking to do. In theory it would be a plugin as that would be the simplest way I can think of to allow everyone to take advantage without having to build a thousand custom themes.
I am quite new to wordpress, first time I have really worked with it on any real level, but the best example of what I am looking to do is like this addon for Vbulletin - http://www.vbtube.com/
While this addon has about 9000 extra things, it would be awesome to have a plugin that can allow you to add a ton of videos directly to your blog.
In case there are any programmers out there looking at this, I would only be looking for a very simplified version of this which would allow me to stream my .FLV or .MP4 directly from an http link.
Would need to have some categories and a small comment system too hehe :)
Anywhooo, thats what I am looking to do.
Some after thoughts - I am currently using "Stream Video Player" to integrate the viewing of video's right in my blog posts - So far this is by far the best player I have found.
If we could take this and design a basic category system for it and some comments, I think you could have most of the work done.
PS. I am a long stretch from a coder, so pure speculation :P