Recommendation for multilingual, user contributed video site

Last time I created a user-contributed video module, it was pretty complex. I had to learn about FFMPEG, find a shared host that supported it, test various media players, choose alternates when my modules/players weren't ready for deployment, and I hobbled together a basic beta site.

Now I want to upgrade to the latest/greatest tools out there. Blue Droplet Video looks great, I'm going to test it. It's in dev - any issues with that for a public site, current users?

Is there anything else I should consider?

The site will host user uploaded videos, do flv conversion, point to youtube content, also have audio and text stories, and need complex tagging for multilingual content & regional content.

Thanks a lot,
Carole