You’ve probably seen this elsewhere already… but this is just like Readability in that this small bookmarklet removes all of the cruft around YouTube videos leaving you with just the video to watch.
Quietube. Great name too.
Update: I figured I’d provide an example link.

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[...] which I linked to the other day, removes all of the cruft from around videos on sites like YouTube and now Viddler and Vimeo. Here [...]