Interesting intersections between YouTube, qual research and ethnography. Visual observations and reporting have always been very powerful in research.  Some recent explorations and projects around this:

YouTube as a Qualitative Research Asset: Reviewing User Generated Videos as Learning Resources
by: Ronald J. Chenail, Nova Southeastern University, Fort Lauderdale, Florida [Source: The Weekly Qualitative Report Volume 1 Number 4 October 27 2008 18-24]:

YouTube, the video hosting service, offers students, teachers, and practitioners of qualitative researchers a unique reservoir of video clips introducing basic qualitative research concepts, sharing qualitative data from interviews and field observations, and presenting completed research studies. This web-based site also affords qualitative researchers the potential avenue to share their reusable learning resources for all interested parties to use.

Lots of cool links in the pdf on qualitative research on Youtube - videos on introduction to and overview of qual research, data generation and collection and reporting of findings.

YouTube and Ethnography - check out ChinaSmack  which has hot internet stories, pictures, & videos in China.