If you're into watching free video content on the web, Miro 1.0 is pretty much a must-have. With 2,700 channels of free content, downloads using the built in BitTorrent client and software to monitor RSS feeds for new content, Miro should keep you happily bug-eyed in front of your monitor for endless hours.
Implications - The software is an online video browser, aggregator and player; so think of it like Youtube but with a little something extra to offer. It's fairly easy to keep track of everything too. Simply find content you like, turn it into a channel on Miro and the site will give you RSS feeds so that you're up-to-date at all times. The software is free, so it's accessible to anyone who wants to get in on the action.