This simple freeware application works pretty well, given how basic the interface is. It has two main features: to download FLV files from YouTube, and to convert them to most major formats. If there's a YouTube URL in your clipboard, it will automatically paste it for you when you click on the dialog box. From there, just hit OK and the downloading will commence. One more left-click is all it takes to load the file in the converter, which supports iPhone, iPod, PSP, cell phone, AVI, MP3, WMV, and Xvid. Surprisingly, there's also a basic video editor for cropping videos by time stamp. You can also cut out the sound when converting.
Download YouTube Downloader