JW player by Long tail video offers a fully customise the ball video player which uses the power of both Flash and HTML 5 to deliver fantastic quality and also easily allows you to use you chew at your distribution network.
Add the following to in between your <head> </head>tags
Upload the jwplayer.js and player.swf to a folder off the root of your webs server
Visit the Setup Wizard at http://www.longtailvideo.com/support/jw-player-setup-wizard add all the relevant details.
Embed the code into your page
I have left the YouTube logo in the video but if you would like to remove this please see my How to remove the YouTube Logo post