Great news! Google has won a long standing lawsuit - Viacom v. YouTube. Southern District Court of New York has affirmed that DMCA safe harbours have been intended to cover such service as YouTube. Huťko guess that most of us expected the ruling in favour of Google. E.g. I am pretty sure about prof. Giovanni Riccio as I vividly remember his message delivered at Cyberspace 2009.
For everybody not familiar with the case, Huťko strongly recommends this great panel discussion.