This is very interesting: according to this page on YouTube, certain sites can now embed YouTube players that contain an AdSense unit above the clip. In other words: you could soon make money by embedding YouTube clips in your site.
The page, spotted by ProBlogger today, doesn't yet provide a way to sign up for this, and I can't find any mention in my AdSense account. However, it does display a new type of embedded player that's long enough to accommodate the ad unit. It also mentions that the player is customizable.
The results could be interesting: if these are the typical Pay Per Click ads (probably a safe assumption), revenues will be low. If they are pay-per-view, however (click the banner to view a video ad in the player), the results could be better.
They also seem to be dodging a bullet: putting these ads on just any old videos would lead to YouTube paying publishers for distributing potentially copyrighted content. That doesn't appear to be the case; instead, they've signed up a number of premium content providers who are happy to have their content shared in this way.
Has anyone seen these players in the wild?