Apple has an agreement with YouTube that has technology behind it to convert the videos into something that Apple portable devices can use.

Now, the long term solution is HTML5. YouTube actually already has a beta of that running, and you can check it out now. That's where Apple believes the future will be, and why Flash isn't "important".
_________________________
Neil Ticktin
Editor-in-Chief/Publisher
MacTech: Magazine, iPad, Web, and Live Events
Check out: MacNews | Mac Community Search | MacTech on iPad!