Online video is growing really big. Is anyone here working on an online video series, or shooting and editing one?

Any advice they can share here on pursuing this endeavor. It's rather new to me - but I know the future for this is big.

I am in the middle of shooting one myself called Hackateer ( http://www.hackateer.com ) that will launch soon that I'm shooting on mini-DV SD. I'm pondering upgrading to shooting it in HD for conforming with how everyone will be consuming media for the next 30 years.

Find some sponsors that will support you. If your site (and your video) get enough hits you could sell commercials just like television and/or have banner ads. Perhaps you could sell dvd copies or charge for downloads or subscription or maybe even ask for donations.
http://www.watchmotorsports.com/a/tricity/10-13-7_tri.html
Here is an example of selling local commercials along with banner ads. I also use a service called spotxchange that pays for showing what they call "broadband video commercials". Its a 15-30 commercial that plays before a couple minute video. Try looking up "pre roll video vendors on your favorite search engine. A few other places sell also, but you have to have a ton traffic and video downloads before they accept your site.

I am part of a team doing one, probably very far from your subject - a one hour a week show that airs on sattelite TV and we also post it online.

Not sure what your question is.

Personally, I'd prefer post-roll video ads or ads inserted after the teaser. Pre-roll videos ads will only drive viewers away from your content without seeing it.