I have been looking for a plugin that can help me embed videos from youtube/google video and others and today i think i found one that works really well. The plugin is found on Viper007Bond where he has a videos to demonstrate with as well. I took the liberty to just use one of his example videos just to test if this is working.
This is some dude who can´t play either the drums or the piano, but thanks to the world of opportunities we have today with video editing he performs very well 
[youtube]http://www.youtube.com/watch?v=JzqumbhfxRo[/youtube]
I use this plugin aswell, works fine.