You will lose convenience if you are non-technical. Brightcove, bit-on-the-run, etc ... have all the tools available, including converting video to several formats to change the bitrate. If you go to Amazon S3 yourself, you will either have to buy plugins or create them yourself to meet your needs. It depends a lot on your temperament and how big you see it.
For huge video portals, I would go with the service, because the workflow is optimal. It is important to do this on your own and is time consuming. These services keep track of this, and if you are on your own, this is an additional burden that you bear. But there is a serious price tag, there is little flexibility, and you depend on the service, which can be difficult.
If you have a modest membership site with 1000 members or so, you can install WordPress or Joomla and work with the plugin to process video through Amazon S3. (FYI: most of the services you mention use Amazon S3)
With a JW player, you can add a number of plugins for analytics, etc., and also analytical tools in S3 assembler are available.
Hope this helps?
Rudolfb
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