Video Site..

Looking to make a video site powered by wordpress just like how the many people on this forum do it for anime sites. I am coming out with a different kind of site which will not be anime but will be a series I enjoy watching.

Some questions for the anime site owners:

1. Are there any wordpress hacks (add-ons) you use?
2. What scripts do you recommend?
3. Where do you get the videos?
4. Is it legal?
5. Where would you advertise or promote your site?

Anything else, I should know will be appreciated.

Thanks, in advance.