Hmm, seems like a lot of trouble? I also found this when using TCPMP:
Linley Meslier has a nice bit of news over at Pocket PC Mauritius...
"Very often, I get people asking me if there is a way to play flash files on a Pocket PC [...] The good news is that this is now possible if you use TCPMP. A new plugin is available at
http://sourceforge.net/project/showf...roup_id=196939. That will let you download Youtube video directly to your PPC and play the flash file without conversion."