YouTube announced a new embed code. It will be an iframe, example below.

<<If you use the new embed code style, your viewers will be able to view your embedded video in one of our Flash or HTML5 players, depending on their viewing environment and preferences. Environments that support the HTML5 video player are listed here on our HTML5 settings page. In instances where HTML5 isn't supported (e.g. our HTML5 player can't play videos with ads), we use Flash.>>

<iframe class="youtube-player" type="text/html" width="640" height="385" src="http://www.youtube.com/embed/VIDEO_ID" frameborder="0">
</iframe>

http://apiblog.youtube.com/2010/07/new-way-to-embed-youtube-videos.html

Awesome, clicking on the new embedded player doesn't direct you to the Youtube page but play/pause the video (at least here: http://www.zorgloob.com/2010/07/25/snake-youtube-easter-egg). This tiny change will considerably improve my Web experience.

Yep, you only get to the YouTube page if you click on the watermark.

Or right click in the menu is also possible.