BBVideo was a project meant to get 480p video in a more easily usable form for portable applications, as yPbPr does not work with very many screens.
But then Aurelio released his Wii VGA patches, so now we can get really nice 480p video out of our Wiis without having to buy any extra hardware. The video may not be quite as clean as a straight digital drive from Wii to screen, but Aurelio has also been working on doing that as well (release tba, it will probably be a while)