Hello
You can do the following, (a little work while youtube code is known).
There's a German software, (visit http://www.ashampoo.com) for free that can search and download YTube videos in flv format to your computer. ClipFinder is freeware (you can expect a lot of ashampoo emails after register :-) )
Works with many major video portals.
With this tool you can download the video and after that uploading it to the folder (create it) "import" under templates_c
After you ftp the file go to admin, import folder, and the rest is piece of cake.
Hope it helps.
Regards