If you want to watch Japanese movies, anime, music videos or television dramas, there's a ton of free stuff at http://www.crunchyroll.com It's great for the beginner because everything has english subtitles, but for the advanced student you can ignore them. The site is dedicated to Asian media, so students of Chinese and Korean will find it of interest as well.
Edited: 2008-01-21, 12:33 pm