The other thing I would like to know if anyone has more info, is if this in fact, affects Let's Plays. Maybe they were only going after machinima, or videos that show trailers or cutscenes. Is there any source where I can read more of that? I think this could be the crux of the issue: if they aren't trying to get money from Let's Plays, the move isn't so bad. EDIT: NVM, read the original source and they are claiming LP videos... that's sad, really.
What I find weird about this whole thing is that neither Nintendo or YouTube have issued an explanation of how things are going to work, and why they think the move is a good one. With all the backslash that this has created in the last week, I would think those companies would like to offer their side of the argument.