It's easy to insert You Tube Video
All you have to do is paste the youtube url into your post. To see how it will look (either in blogs or in the forum) click the preview post link.
You can insert the following video types in the same way
Flickr Image Set
If there is a type of video that you would like to be able to use here, we may be able to add it. Let me know if you have a suggestion.