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Just a tip - if you want to watch youtube fullscreen on older machines under Linux, try SMPlayer with SMTube, which is a very similar premise. The difference is absolutely amazing compared to trying to watch it embedded in a browser. I can watch 720p on a 2008 Atom netbook just fine on Linux, whereas it was struggling even to play 360p in Chromium or Firefox.
Yes, I use it on OSX too - it's a great solution for PowerPC Macs.