360 review

gistfile1

var isClicked = false,
	$videoContent = $('#video-content'); //cache the selector

//utilize event delegation instead of direct event binding (note the 2nd param is the selector for event delegation)
$videoContent.on('click', '.ratings img', function() {
	e.preventDefault(); //this is all it takes to shortcircuit the event, unless you want to also call e.stopPropagation(); return false does both of these.
});

$videoContent.on('click', '.ratings' function() {
	//use === false instead of ! to prevent type coercion issues
	if(isClicked === false) {
		rate_post();
		isClicked = true;
	}
});

//again, use event delegation
$videoContent.on('hover', '.ratings', function(e) {
	if (e.type === 'mouseenter') {
		$(this).find('img').attr('src', 'http://cpb360.com/wp-content/plugins/wp-postratings/images/like/rating_1_over.gif'); //do you want these to be production references, always? maybe relative pathing is better
	} else if (e.type === 'mouseleave') {
		$(this).find('img').attr('src', 'http://cpb360.com/wp-content/plugins/wp-postratings/images/like/rating_1_on.gif');
	}
}