Permissions and Restrictions
You may access and use the Service as made available to you, as long as you comply with this Agreement and applicable law. You may view or listen to Content for your personal, non-commercial use. You may also show YouTube videos through the embeddable YouTube player.
The following restrictions apply to your use of the Service. You are not allowed to:
access, reproduce, download, distribute, transmit, broadcast, display, sell, license, alter, modify or otherwise use any part of the Service or any Content except: (a) as expressly authorized by the Service; or (b) with prior written permission from YouTube and, if applicable, the respective rights holders;
access the Service using any automated means (such as robots, botnets or scrapers) except (a) in the case of public search engines, in accordance with YouTube’s robots.txt file; or (b) with YouTube’s prior written permission.
I haven't read the Terms of Use in details, but I guess it depends on what you do with the data. I actually don't store, distribute or sell the videos, so I hope it is OK in the scope of such personal project :)
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