This was touched upon in another thread but not answered.

I'd like to simply be able to add the Youtube embed code to import videos from them, so that they are still hosted at youtube.

What is the point in hosting them myself when youtube are already hosting them and actively encourage you to embed their videos on your site?

So where we now have the excellent import video feature, underneath might be: "Or use video embed code" - so the video at http://www.youtube.com/watch?v=vr3x_RRJdd4 would automatically be placed in the space our hosted video would normally occupy.

Is this ever likely to be in a future release? If not, I'll get a coder to do it for me.