Google is rolling out the AdSense Video Units over the next several days to English-language publishers in the UK, Ireland, and Canada, according to the Google AdSense Blog.
With this new launch, publishers in the UK, Ireland and Canada will be able to show videos from our YouTube content partners and choose those videos by category, individual YouTube partner, or have video automatically targeted to their site. Based on publisher feedback, we’ve also just added a feature which lets you choose individual videos to be displayed in your video units.
These Video Units could use some improvements, including more options for the dimensions of the players, as well as being able to pick up a particular video from a YouTube partner to feature.
Anyhow, it’s a neat solution, and I’m sure there will be enhancements rolled out over time.
Here is an example of the Google AdSense Video Unit:
More details at http://adsense.blogspot.com/2007/11/video-units-coming-to-uk-ireland-and.html.

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