As Michael Arrington from Techcrunch reports it seems that Google Video, competitor of Youtube now accepts porn :

the restrictions on uploading "pornographic or obscene" material is now just a restriction on "obscene" material. They've also added a "mature and adult" category to the genres and removed (I believe) a box on the initial uploading page that must be checked where the uploader certifies that the "video is not pornographic or obscene material".

Sound to me Google is smart as it is no secret that porn is still number one moneywise on the net so why exclude it ? I think the popularity of PornoTube clearly shows this. And if you look at the Top 100 video's, all the high rankers are explicit in nature.....