Fublin, Пишешь ссылку http://youtu.be/dY5bYUtvo8w
и регуляркой забирает код (dY5bYUtvo8w) в плеер
<object width="340" height="280">
<param name="movie" value="http://www.youtube.com/v/' . $video . '?hl=ru_RU&version=3&rel=0">
</param>
<param name="allowFullScreen" value="true"></param>
<param name="allowscriptaccess" value="always"></param>
<embed src="http://www.youtube.com/v/' . $video . '?hl=ru_RU&version=3&rel=0" type="application/x-shockwave-flash" width="340" height="176" allowscriptaccess="always" allowfullscreen="true"></embed></object>