Geoff Stern, the Google guy who recently rewrote the YouTube player, just posted an interesting demo, mashing up the video player with the Google maps API, demonstrating the new player's Javascript integration capabilities.
Other examples out there:
This brings new possibilities for screencasts (or video presentations / podcasts), for syncing the audio/video with text caption or any HTML content along the audio/video timeline. Now I am just waiting for YouTube not destroying anymore the HD quality of uploaded quicktime videos when they convert it to flash (requiring cumbersome hacks like this for online HD flash video), so that YouTube can eventually be used for high quality screencasts and video enabled online presentations.
Update: more chromeless players:
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