As Archie Bunker's wife would say: "Oh........!"
I'm going to kick myself somewhere.
I had found a bookmarklet the other day that allowed you to save a youtube link without the rest of the ads and stuff. Just the video.
I've re-installed my notebook and the last bookmarks in my browser didn't have it saved.
I know it was ...tube something but i can't recall it anymore.

Found it!
Actually, it's not a freeware program, but it's almost worth one.

It's a bookmarklet.
http://www.quietube.com/