I know exactly what you need

www.blip.tv - There is no ads, you can customize players colors, you can even place YOUR OWN sites nime to the player which links to your site!
If you really want to, you can find/make your own player and then make it use FLV files on blip.tv server, because they give you straight link to flv file

I recently just found it, and I'm going to use it myself as well

Also Blip.tv has launched ad program. It displays ad before/during/after the video, and you get revenue for it. Of course you can switch them off. I don't know why, but for me the ads didn't work when I turned them on. Maybe because they are fresh site and don't have much advertisers, maybe something was broken, maybe cause I didn't add any keywords for my test video..

Oh, and videos are with Superb quality for free site and FLV..