I use the Firefox add-on Video DownloadHelper to download and then use mplayer (or vlc) to watch the video.
That way I don't have to leave my browser to get video; I usually use the HTML5 player (which works great on OpenBSD, btw) and only use Video DownloadHelper for those videos that don't have an HTML5 option.
As a benefit, it works in places other than YouTube.
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