Here is my very short review.

Bear in mind that I only upload video files.
Pros
Good and reliable FTP speed.
400kb is still very adequate for streaming speed (I don't know how it will fare on peak time though)
1GB download limit is very generous for free user.
An option not to convert your video file. (Video is available instantly without losing any of its quality!!)
A forum to talk about the site! (never seen a forum on a hosting site)
Cons
Well, there is just one con.
Extreamly intrusive pop-ups. (just like putlocker)
Those pop-ups appear full screened, flashing on task bar and even ask for confirmation before it can be closed.
Plus, sometimes it has porn pictures, or missing pictures or even videos sometimes. I'd be scared to click on any of those links for the fear of catching viruses.
These pop-ups not only tarnish your site's reputation, but also can scare people away from it.
Have you ever considered in-video advertising?
Short ads are inserted and plays before and/or after the video like you see ads on TV.
Justin.tv has those Ads on their streams, yes they are annoying but at least they look professional, well targeted to the demographics and less intrusive than these pop-ups.
But all in all, everything looks very promissing.