Seems to me all you'd really have to do is enable the custom video tags that ship with the UBB and make a forum for video posting (like I do over at UGN)...
Posting your own videos however, wouldn't be a possibility with it however since there isn't the ability to upload vidoes in the UBB, but there are plenty of 3rd party scripts out there that allow it and even allow an embedded script to syndicate them, which would be easy enough to add to the CustomTag generator in the Control Panel...
