After the review on SeeqPod Mobile, I feel that I should provide a software solution for those who are in need of a video streaming program instead of just audio. So, if you are a fan of Dailymotion, Metacafe, or you want to use Google video, then Web Video Downloader is the program for you.
As the name suggests, the program was created initially, to download video files locally but then it evolved to provide streaming video playback as well. The program is currently in 0.0.15.0 version, it is compatible with QVGA, VGA and WVGA and it supports the most popular online websites like Youtube, Google video, Liveleak, and a number of adult sites.
A complete list of the sites that W.V.D supports and download links can be found in the related xda-developers thread or in W.V.D website. The program is free of charge, but you will need an external video player that supports the standard formats (3gp, flv, mp4 etc) to stream videos such as TCPMP 5500 which can be downloaded here.