I agree - that's actually what our original plan was, although we decided to target the general case first.
Any advice: which is better quality video Blip, Google Video or YouTube? In my mind YouTube is out of the question b/c of the limited upload size. Not good for hour long+ lectures.
Youtube is actually the most reliable, but as you mention only supports small videos. One option is to break long videos up into 10min chunks and then stitch them together on Omnisio (we support compilations of multiple videos). It's a bit of a pain I know.
We are looking into support for other video sites - I wish there was a perfect answer :)