YouTube is my source for stupid, funny viral videos. I also go there for music quite often and have been doing a lot of converting to mp3's. I watched a video that was posted by some friends of mine. They are in a band and just put out their first music video (shameless plug, but you should watch it. It's good. I'm dressed as a wealthy tycoon in it. http://www.youtube.com/watch?v=LxiTA-arC6Y ) YouTube does have some advertisements on certain videos, but most of them do not.
I think Hulu and YouTube, at this point in their histories, are very different services. YouTube does have some TV episodes on it, but they are most likely on there illegally. I do like going to YouTube for certain clips of movies or TV. I don't think one will overtake the other. And it is obvious to tell that both services have taken certain precautions to avoid breaking copyright laws, with Hulu being more effective at it.
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