There's been a few attempts at this but the projects have always died before completion. I'd really like to see a video gallery, similar to photoplog or photopost, but for video.
You obviously wouldn't need to upload files. The way someone tried to do it before, is you click an 'Insert Video' button when making a post, and you put the embedded code in between the tags. The video would automatically be added to the gallery, with a still, and you can play it back from the severs it's on (Youtube, google vid, etc.).
You could also add video embedded links directly to the gallery. I'd be more then happy to pay someone to do this.