VIxy.net offers a free online FLV (Flash Video) Converter so you can download online videos direct to PC, iPod or PSP - free. Check it out here!
There's also a desktop version available for free download.
Getting your Flash Videos (i.e. everything on YouTube) to your iPod (in Mpeg4 files)- that's cool.
And for your uber techies, you can download the open source code that converts the file formats.