Hi guys
I am currently working on a video embedding module based up on the open source FlowPlayer Flash Video Player. I've successfully implemented this on one of my clients sites so far, but I am quite low down in the development stages at present. When I am ready I will release a it for testing in the community before releasing it as version 1.0
To see this is in action currently, please visit:
http://www.infuse4life.co.uk/pages/previous-speakers.phpThe site uses mainly websitebaker, but I have also integrated wordpress and (to a small extent only) ZenCart.

Peter Nicholls
PS JUST TO ADD: FlowPlayer handles flash video, mp4, mp3 and H.264