FV WordPress Flowplayer plugin is a free, easy-to-use and complete solution for embedding FLV or MP4 videos into your posts or pages.
With MP4 videos, FV WordPress Flowplayer offers 98% coverage even on mobile devices.

Download the version that was available when we wrote this post here:fv-wordpress-flowplayer
For updates, support and to check if you have the latest version Click here.

Read their FAQ’s here

Q: Which player would you like to use?
The easy to use and install flowplayer  OR  the YouTube embedded video , which can ‘steal’ your visitors by taking them of your site and directing them to competing videos!?
Compare the two players below.

While each player has pros and cons only you can decide. Promote YouTube.com on your site or don’t.