BearFlix is a P2P video sharing application software (3.24MB) . It has been tested and found to be free from spyware. However the freeware version includes a banner ad.
It is easy to use and also includes a video player. BearFlix is connected to the Gnutella network and you can find video files by searching on their "deep search ".
For those who are scared of downloading malicious files, there is a file rating option and a automatic virus protection feature. If you want more features, get BearFlix Professional for $19.92