YouTube Downloader works pretty well, given how basic the interface is. It has two main features: to download FLV files from YouTube, and to convert them to most major formats. If there's a YouTube URL in your clipboard, it will automatically paste it for you when you click on the dialog box. From there, just hit OK and the downloading will commence. One more left-click is all it takes to load the file in the converter, which supports iPhone, iPod, PSP, cell phone, AVI, MP3, WMV, and Xvid. Surprisingly, there's also a basic video editor for cropping videos by time stamp. You can also cut out the sound when converting.
This is one of the lightest editors around, but the simplistic interface belies its functionality and it performs exactly as advertised. I'd like to see support in future editions for hunting down missing codecs, and version 2.1.5 and earlier won't work because of embed code changes on YouTube itself. Still, the YouTube Downloader is proof that not only is video-making accessible to everyone, so is video downloading and editing.