That site is broken now, apparently due to some sort of change in either Last.fm or YouTube, but luckily, another mash-up of the sites has entered the fray, and you can find it on Tim Borman's website.
As with Lasttv's previous effort, all you have to do is enter your Last.fm user name into the service to be presented with a customized, fast-forwardable channel of YouTube videos. No password is required, so you can view YouTube through the lens of anyone's music listening habits, so long as you know their Last.fm user name. Borman's mash-up also lets you filter YouTube through Last.fm's artist playlists so you can watch without entering a user name.