A lot of people discover that when they try and upload their Camcorder Videos to YouTube that the files are huge and that it will take hours to upload using their broadband connection. Here is a simple to use, FREE conversion and compression utility called MediaCoder, that will convert your videos to MPEG-4 format.

Converting to MPEG-4 format will dramatically reduce the size of the video files while still maintaining the quality for the purposes of viewing on the computer or YouTube.

This video describes the process in more detail.

How to compress videos for uploading to YouTube