Currently I am hosting Audio via Amazon S3. Video is a relatively new addition to our once all audio uploads. I have been using YouTube while I seek out alternatives. Blip.tv seems like a good idea, minus the 1GB limit. I have also thought of hosting on S3 and using the Sublime Video Player; however, paying for a player to not show ads even though they don't physically host the player seems to be a drawback as well.

So I may have to use YouTube for a bit until I come up with a better solution or just go all in with S3 (not expensive now, but who knows what the costs will rise up to with more and more traction on views).