Votes without feedback are useless in this sort of thing, so let me give you my thoughts.

1) Why is the Terms page showing the terms in a flash scroll box? My main annoyance is that when I use the wheel on my mouse the terms won't scroll. Minor, but an annoyance. 1.a) Why do you separate Privacy and Terms with Help in between? Again, a nitpick but it's something I noticed.

2) Awesome logo! The camera with envelope on the side is perfect. The site seems kind of bland in colors (compared to say Vimeo)

3) Why no flash video tour on the homepage? As a new user, I don't understand why your site is worth joining when I'm already on Youtube and Vimeo.

Even though I have nitpicks and criticisms and only one applause, I do like your site, the simplicity of it, and the system. It looks good and I'll be curious to see how you do.