Yes, now you can watch your YouTube reputation in real time thanks to new discussion search functionality.
Of course if you did a search on 'first' you would find millions and generally comments on YouTube aren't worth the time to read them. However this could very well be a good feature if you're putting your brand out there a lot.
There's no RSS feed available for the results at present but knowing what people are talking about could certainly help you nail them quicker via search marketing etc.
Apparently it's not fully launched as YouTube hasn't put anything on their blog or anywhere else about it. I guess you can't hide from the eyes of the viewers even if you want to...