Just came out today when i was browsing around.
http://www.inetconnector.com/
PocketPC Video Viewer for YouTube videos. Watch YouTube videos with your PocketPC. InetConnector is using the free TCPMP mediaplayer (GPL) and redirects the videostream to this player. InetConnector Video uses the newest Microsoft .NET Compact Framework 3.5. The installer is able to install this Framework
Check it out guys