Google Adsense's YouTube video units are now live and offered to Adsense publishers in the US starting today.
Adsense's video units stream relevant video from YouTube partners on an embedded, customizable video player. Publishers can choose the categories of videos they want to play, select content from individual YouTube partners, or have video automatically targeted to the site content. The color scheme and layout of the video player can be customized.
Targeted top banner and text overlay ads (which can be closed anytime) also accompany the video unit.
Below is a screenshot of a sample Adsense-YouTube video unit.
I just hope these video ad units will be offered to non-US publishers very soon.