PodBean is for podcasting. Make a podcast, and post it to your PodBean site and it will crosspost to your blog. The podcast can be listened to from either spot. It looks like this for sound:
and this for video:
It's free and pretty easy to use. You make your podcast/recording on your computer, upload and publish it to PodBean (each account has it's own show blog/player page) and then copy and paste to your blog. Advantage is having your media easily accessible in two spots, at no cost.
Podcasts are great for interviews, lengthy discussion on a topic, or for musicians that want to get their work out into the world in a cheap and easy format. Also, PodBean podcasts can be configured to be downloadable from either your Podbean or blog sites, which makes it an excellent distribution platform for audio.
Free Podbean is limited to 30meg per upload (not a really big file if you're doing video but sizeable for sound). Larger files can be done for 1.99/month.
I have the idea that Podbean could be great for studio walkarounds and artist interviews. Also, it integrates with iTunes feeds.