No.
Trust me, the best way is to render it uncompressed.
Once it's fully rendered, and you have the output file, use any video converter (Hell, you can even use Windows Movie Maker) to down convert it to something more manageable.
The closest thing I've found for a straight-to-youtube conversion was a DivX codec (VP61 I believe) but it outputs a very, very bad bitrate, and can seem choppy.
Some examples,
Rendered in Full Frames, and then converted to 20MB's
Gmod Demo TestRendered with VB61, and uploaded to youtube directly
The best possible use for Red's scream.Just stick with using the Full Frames, and then converting it afterwords.