So glad to hear this news! I can hardly ever post anything to YT anymore (for example, my Avril documentaries or fan made music videos) or if I want to use music in my videos I have to find royalty free music. It's complete BS that we can't even upload tribute videos or use music in a video. I've even seen videos with royalty free music have the audio removed, or this girl that was on The Voice covered a Carrie Underwood song live long before the show and the audio was removed (thankfully they realized how stupid and unfair that was and put it back). Just ridiculous. If they don't do something about this YT is just going to be nothing but cat videos and babies.
Personally I get annoyed when certain TV documentaries are removed from Youtube on copyright grounds, though I don't know how this issue will be affected. All I know is that knowledge should be free. /rant