I am sure this is old hat for many of you, but I just found an all-in-one video plugin for WordPress called ExtremeVideo 2.0. This plugin easily embeds google videos, youtube videos, flv files, and mov files within your WordPress posts or pages. It has been out since January, but if you are still in search of an all-in-one videoplayer for WordPress check this one out -the latest installment of this beta (2.3) is working fine for me. Below is a sample youtube video I found thanks to the fine folks at WFMU.
[kml_flashembed movie="http://youtube.com/v/F5ky5ClIjL8" width="425" height="350" wmode="transparent" /]