I just added youtube adunits for this site. Let me know if you like them or hate them. This site uses wordpress and Adsense manager. Adding the ads was simple. Adsense manager does not understand the ad format but was happy managing the ads using custom html. The problem with youtube ads is fitting them in the site. My sites used to be two column. The You tube ads come in various formats. Of all of them, the only one that works in the right column is 160 pixel vertical ad. Other ads are just too big to fit in and I absolutely hate the top banner ad.
The two column theme I was using had a right column. If you click on the ad, the video shows up on the right of the right most column and messed up the site layout. The way out was to have the ad on the left column. I had to add the left column just to display youtube ad :(. I wish there was a way to change the way the video player expanded and I could keep the you tube ad in the right column and the ads expanded towards left.
I expected something better from google.