No cost, and if your paying a fixed cost per month for broadband service all is costs is time. As far as "better" way, in YouTube (and Vimeo) you are limited to their encoding specs, where as if you set your own host, you can encode for the highest quality. Youtube re-encodes everything you upload, to a max of 5-8MB/s bit rate for HD. The Youtube encoder sometimes can make your high quality upload look like crap if your encode is too aggressive. I'll post some details later on the best settings, you have to keep it relatively simple. If you want to share a limited amount of max quality video, you can host your own on a Dropbox account. You get 2G free and can pay for more. I've done this for short clips and it works good. Plus, its a great cross platform app to share stuff between your PC, Mac, Android, etc.
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