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I can see the advantages of both options.
Streaming should dramatically cut down on your content being posted on forums.
Downloads will of course make the download and watch later members extremely happy.
One of the sites I have recently started promoting is about to take another approach. They will be offering the streaming method for all members, but long term members (3 months+) will be given the download option.
I don't think that many forum posters are willing to join any site for 3 months or more just so they can make money through moron or any other filehosts. I think it also adds a little incentive to stay with the site for a while.
So maybe that could work for you instead of an either/or approach.
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