Originally Posted by quantum-x

Out of the box? No.
With the right codecs and scripts? Absolutely - I mean hey - you think youtube employs some dude to sit there all day and encode the HQ videos that come along? ;)

Good info on this subject is scarce, but here's a good start - this script is pretty decent.
http://blog.massanti.com/2008/09/26/...ipt-mac-linux/