Veoh is a really solid app. The main offering is a P2P application for viewing and sharing video - an interesting alternative to the web-based video sharing apps like Vimeo and YouTube. If you want to understand the app without the download, take a look at this 15 minute screencast. From the Veoh site:
Veoh software, installed on PCs or Macs, creates a virtual television network, that is able to distribute TV-Quality, Full-Screen broadcast video to hundreds of millions of users with broadband internet connections. Motion picture studios, television networks, companies, organizations, and individuals are able to publish unlimited amounts of broadcast video content to the network, providing consumers with unparalleled choice in television programming, and control over their viewing experience...To deal with this multi-million channel world will require sophisticated technology to properly categorize, search, recommend, and index the new wealth of video information at our disposal. Veoh Networks is hard at work on these technologies, so stay tuned for tons of new functionality that will blow your mind. You will never look at television in the same way again!
Veoh has 10,000 users and the application is highly polished. I'm watching it closely, along with a soon-to-launch video sharing service called Tioti.