yes..its very possible. i do it all the time. heres how:
1. download flv player
http://www.softpedia.com/get/Internet/W ... ayer.shtml
2. find the video u want to download on youtube
3. copy the hyperlink on the toolbar
4. go to this site:
http://www.keepvid.com/lite/
5. paste the hyperlink on the space provided
6. click download
7. below it should show a "save as" link. click on that and it should bring up the file needed to download it
8. after its downloaded, go to the file.
9. right click
10. click on "properties"
11. on the name add ".flv" <<without the quotes
12. hit enter
it should play on it after that. tell me if u have any problems or questions