Publicity is something every entrepreneur should do, whether you’re planning on distributing your app for free or you want to work up awareness of something you plan on releasing for sale. Getting your name out and people talking about your application with YouTube, or any other video site is a great way to do that.
What are some of the things you could do?
Make a walkthrough video:
Show people how it works and what it does. Flaunt your interface, especially any excellent uses of the iPhone accelerometer or gestures. Let people know where they can get it (don’t forget that part), and if you have a Marge Simpson voice, use text instead, or try get a friend with a good voice to do the voiceover. Jailbreak apps have already been featuring their work on YouTube, check out this one for a text walk through, or this one for a narrated one. Not very good examples, I know, I'd recommend better lighting and not messing up your touches for starters. Remember, the Google TOS forbid ads, so try make it look real (although it doesn’t seem to be stopping anybody).
Make a second, shorter video for blogs and news sites to embed if they choose.
Interview your developer or CEO about what your app is trying to do for people? It helps if you’re famous (or the head of a major corporation), but if you keep the goofiness factor down, anyone will do.
Interview a customer about the need for your software. Show it off to people on the street to get their impressions.
Set it to music. Sounds silly, but if you have some really fancy interface action going it could work well. Same goes for a great idea. As long as people get the idea of what it does, it’ll work. Obviously, now is not the time to be using someone else’s music. I have a feeling they’ll know where to find you.
That's what I've got for YouTube. If anyone has ideas about camera angles, lighting or other hints, post 'em in the comments.

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