One of the things keeping me busy periodically over the last few weeks has been integrating blip.tv with the embedded CCK video module. There's already a submitted patch for a basic version of the modules' output and blip.tv, but it ignores some of the best functionality that blip.tv has to offer (thumbnail generation and original file hosting).

I've been conspiring with Roland and the rest of the folks on Bryght on the best way to make this happen. One of the distinct advantages that blip.tv offers over its competitors is that they host your original media file, as well as generating a flash file for you to host on your page.
Having access to the original file has some really awesome advantages - original filesize + enclosures in rss = itunes feed. Want to push to feedburner? Include a link to the original file, and get an automatic videocast listing.