Mpegstreamclip, a great utility that won't be around for long. I'm assuming, of course that you have the rights to this material.
You can export a dv file or a ProRes file, probably better, and then use compressor to make your h264 for YouTube. I think I've tried going straight to H264 and found I get better results going to ProRes or uncompressed, and then making the file for YouTube.