I caught this self-referential tutorial on YouTube today which walks you through the basics of the YouTube API. It appears to be quite simple to develop Javascript or Flash applications that can control or interact with the YouTube player, or even completely reskin the interface.

What I didn’t know until recently was that the API has provisions for allowing your application to upload videos and post comments. You can even authenticate users and allow them to interact with the YouTube backend through your private application. It looks like you can do just about everything programatically except remove the YouTube watermark on the video.

YouTube Developer’s Guide
Developer API Blog