Object embed code

Okay. So I'm currently working on upgrading the jw player which is included in the default installation on vshare 2.6. However, the object code doesnt seem to work anymore per default.
Why upgrade to jw player 4?
Skinnability and features :)

I've managed to write a new embed code using <embed> tags which works.
For example:
<embed src="http://vodcontent.esgc.tv/player/player.swf" quality="high" width="425" height="350" allowscriptaccess="always" allowfullscreen="true" flashvars="file=http://vodcontent.esgc.tv/flvideo/12167237651435677140.flv&image=http://vodcontent.esgc.tv/thumb/27.jpg&logo=http://vodcontent.esgc.tv/templates/images/watermark.png&link=http://www.esgc.tv&linktarget=_blank&overstretch=true&ski n=http://vodcontent.esgc.tv/player/jwplayerskin/snel.swf" />

Would this be a good solution to implement permanently instead of <object> in view_video.tpl (template file)? I see youtube has an <embed src> tag between <object></object> tags so maybe there's a better way to do this?

See this link for comparison: http://www.xh.se/test2.html
<embed src is top, and old object code is bottom one.

If the script is run from the local server the old object code will work. So I'm guessing this whole problem is related to some new hotlinking prevention in jw player 4?
See this link for same comparison but run on local vod serving server: http://vodcontent.esgc.tv/test2.html