Update: Youtube has announced via their blog that they have officially increased the upload limit from 10 to 15 minutes for all users.
For as long as YouTube has been operating you were always limited to uploading a video that is 10 minutes in length. Boing Boing has reported that in the coming future, the limit will be extended to 15 minutes.
Along with the announcement of the extension there will be a “15 minutes of fame” contest. Details right now are limited on the contest.