Steve Lavin of ESPN breaking down Georgetown's princeton offense. He lists the following 5 offensive keys:

1. High and wide spacing
2. Precise passing
3. High velocity cutting
4. Reading the defense
5. Executing counters

It's a great offense for sure. A lot of people associate the Princeton offense for teams with less talent, but as Georgetown shows, you can incorporate it for any group of players. There's only one imperative in making it successful... Your players must pass the ball and work as a team. The Princeton is not a good ISO offense.

There are plenty of videos teaching various Princeton concepts like the backdoor cut, etc.. But surprisingly there aren't that many specific videos on implementing the Princeton system. If you are looking for one however, you should check out Joe Scott's DVD building the Princeton Offense. Coach Scott is the current head coach at Denver and used to be the head coach at Air Force and Princeton, both 5-out teams. Be sure to check out the X's and O's Basketball forum to discuss your favorite coaching topics.