Comment RTFA! Google Video Will Still Host Content! (Score 5, Informative) 119
Google Video is not going away! All they're doing is adding YouTube results to the search results when you search Google Video. Their plan is to at some point incorporate other video websites so that Google Video is not just a place to view videos, but also the one place to search for videos.
http://googleblog.blogspot.com/2007/01/look-ahead- at-google-video-and-youtube.html
http://googleblog.blogspot.com/2007/01/look-ahead