I like option 1 personally, I think it would be easier to setup and if someone joins the video group and have something to upload they can right away.
 
I would like to get a few other opinions though, I have included the video mailing list to get Nitesh's input too.
 
- Chris
 

1. Just setup a 'group' space on fedorapeople.
So, it would be under: http://fedorapeople.org/groups/
There's no quota there, and anyone with fedorapeople or a video group
access could arrange things. There's no backups of this space
currently.