Just happened by this and thought I'd post it here in case it was news to anyone. Cheers.

From the Google newsletter:

"Remove country restrictions on YouTube videos

More and more YouTube videos are starting to restrict viewership to certain parts of the world (most likely because of global distribution licensing issues) or to users 18 and up (which requires you to be logged in to view). Google Operating System has come up with a great way to get around these restrictions so that you can watch videos in any country, regardless of the "limitations." Simply change the YouTube URL from youtube.com/watch?v=VIDEOID to youtube.com/v/VIDEOID -- this redirects to the equivalent of the embedded YouTube player, which does not check for location based restrictions."