Unfortunately there's not any easy way like "right-click, save as", but that's not to say you can't do it. There's a utility that can be purchased for $15 called TubeSock that will convert the codex appropriately so you can save the video to your iPod or computer. If you know your way around video formats and conversions and you're willing to do the legwork there's a fun and action-packed tutorial that can be found here.
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