I was always wondering, if streaming a YouTube video would work on Nokia Devices with Java ME. I was pleased to find out that it did! And it did, very well, over a 3G connection on the stunning screen of Nokia PureView 808.
The idea is pretty simple. All you need is a Canvas with a YouTube logo, a Video Window for displaying the stream and playback controls for starting, stopping fast forwarding or rewinding the video. The cursor is draggable so that it offers the same user experience as the standard YouTube player.
This wiki article, explains how.