Hi,
also: read the wikis - the one here and also at maemo.org to find info on stuff such as videos. Check out the beginners section on installing software.

I am sure you can watch Youtube but you need a program (I think its UKtube?). Just search in the forums. Youtube wont work automatically in OS 2007, but people made programs to get around this. One of them let you click and save the Youtube video and then watch it (which is still very fast).