Over recent months I have spent a lot of time developing the media player that I have embedded in my website. Its kind of a strange beast as although it looks like a single media player - it is in fact a hodgepodge of a number of media players brought in a single seamless environment.
It supports a large range of media formats including YouTube, Google Video, Windows Media Files etc but I have just been trying to add support of MP3, podcasting and FLV and SWF formats. This has taken a lot of research but here is where I am at.
I have found a great embeddable mp3 player from Google. This is so clean and so Google Video like that I don't think I can do better. I am playing with an MP3 podcast file that you can listen to here.
I am also experimenting with Wimpy Wasp Player that will play SWFs and FLVs.
And finally I found Odeo - the mp3/podcast equivalent to Google Video - so now I can not only embed an MP3 player but also a podcast player!!! Amazing :-)
I am almost at the stage where my player will cope with most of the standard formats available which is very satisfying. Its looking a very rich indeed. There is still however a shortage of good KM material.