Best to keep this invite only forever. If live video is allowed, this place will just turn into a mini Youtube full of junk. Cover charge keeps the riff raff out, and making people post in flash format helps keep the portal solid animation and games like it always has been, allowing easy access to post videos will lead to an endless crapflood of little kids and idiots posting whatever they record on a camera all over the portal. Making formats easier just makes it easier for non artists to post the kind of stuff that's not wanted here.
The worst thing is, it potentially turns this place into a war for e-fame, as youtube is now to full for most people to get their foot in the door. With free video posting, every dick with a camera will post here and get all there non-Newgrounds friends and similar artists to flood this place and launch voting wars that will destroy good works here to promote utter crap. I don't want a bunch of people thinking they will be the next Fred or the big thing by posting moronic videos to Newgrounds thinking it will laucnh them somewhere. I seriously think free video posting could destroy Newgrounds.