As part of the "Web2.0" initiative, we've been asked to look at YouTube, and find a favorite video. I have been using YouTube for quite some time for all kinds of things - finding concert videos for favorite musicians, finding old Muppet Show routines, as well as other old T.V. shows.
But I think for my favorite, I have to go with the Hammer Juggler. While I initially was e-mailed this video, I was able to find it on YouTube, and thus I could send it to others without the bandwidth overhead. Each time I watch this video, I try to see if I can find any scars on this guy's face from previous practice sessions. Do not attempt at home.
One of the interesting things about YouTube is that it seemed to prompt the whole online "video on demand" concept that lead to studios releasing their own videos, and subsequently, the writer's strike. While it would be unfair to blame the writer's strike directly on YouTube, you can see how these events fall into sequence. In the future, you may see more creativity from common citizens using YouTube, and networks left to unscripted entertainment, like news, true crime and sports.
On the embedded player: I see the embedded player for YouTube turn up quite a few places. It's a cool little widget, but any secured web browser would not allow it to run, since it uses the same technique as a common cross-site scripting attack. A cool widget is not worth the security risk.