When I started blogging I have no idea on how to put videos from you tube to my blog. Then while tweaking my you tube account, I discovered I can add a blog on my account. From then I have been using that option. I would look for a video and just click the option on posting it to my blog. The only problem I have with this one is it is published right after clicking the post button. Since I am a big fan of scheduled posting, I have to edit it again and change the post option. This is much hassle for me. Only recently I discovered that I can actually just copy the embed link of the video. The link can be found at the upper right part of the screen. Here's a screen shot:
All you have to do is copy the embed link and post it in your create new page and add some sense if you want.
Don't you just love how easy our blogging life can be?