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How can I go about making edits to an online video without having to download it and/or an application to my desktop?

I want to be able to edit a video using a web-based service.

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  1. Youtube ? See here more details: http://techcrunch.com/2010/06/16/youtube-video-editor/
  2. stashSpace

There were a couple more, but they were either bought (Motionbox by HP, Jumpcut by Yahoo) or vanished (eyespot - I say that because I can't access their web page). And I think photobucket has a feature like this, but I'm not sure.

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