I think the latest board update dropped the ability to embed you tube videos. It used to place the video right in, now it only puts a clickable link:
http://www.youtube.com/watch?v=Zf4XC_PBfX8
It may be a bandwidth issue. . .
Anyway, since links look crappy in a post, I have gone to finding an image for the video. Putting that in first, then highlighting the image and linking it to the video site in order to make it more pleasing to the eye: