You might want to check out ourmedia.org, I haven't used them, but it seems like they don't have limits on file sizes or bandwidth. I believe you can embed video into your own site as well. I'm pretty sure all content on their site is progressive download though, which could be a drawback for you with bigger files like that. Hope this helps.
Incidentally, I think I'm right across the street from you... aren't you over at WFAE?
University of North Carolina @ Charlotte