here is the current youtube code which allows us to embed the clips using the whole link
BBcode usage
{TEXT}watch?v={TEXT1}
HTML replacement
<object width="425" height="350"><param name="movie" value="{TEXT}v/{TEXT1}&rel=0&color1=0xd6d6bc&color2=0x71605d&border=0"></param><param name="wmode" value="transparent"></param><embed src="{TEXT}v/{TEXT1}&rel=0&color1=0xd6d6bc&color2=0x71605d&border=0" type="application/x-shockwave-flash" wmode="transparent" width="425" height="350"></embed></object>
i'm going ot piddle around with it myself too...