You might have unlimited storage space with your hosting account but you also have to check what your bandwidth limit is per month, i.e. how much data are people allowed to download from your website, and how fast your hosting is (dependent upon what type of connection the web server has to the internet, and who is sharing it).
If you have standard hosting then you are probably better off using an FTP (file transfer protocol) to do the uploading, filezilla is free.
I recommend using a tool like
www.flashvideostudio.com to convert your movie to Flash, that way it is easier for most visitors to see the video, and Flash will also handle
streaming so large videos will start to play sooner.
Although we do not have any clients with large videos, we have some client sites with short video clips using flashvideostudio, e.g.
www.kamstkd.com video gallery section.
There are some benefits of uploading your video to youtube or google, it doesn't eat into your bandwidth and it can offer viral marketing, but there are downsides too, sometimes it can be quite slow, you cannot stop others, e.g. your competitors, putting the video on their site, and you don't have control over the adverts for other videos, perhaps from competitors, that might be displayed after your video.