New YouTube Player
Check out the screenshots of the new YouTube player over at Google Operating System.
YouTube tests a new version of its player that will improve the way you interact with videos and will create a cinematic experience.
The player will add a feature that was already available in Google Video: jump to any part of the video even if the video isn’t fully downloaded.
This update includes other less useful features along with a few cosmetic changes.

8:17 am
Hmm, it appears pretty good. Although I’ve never liked the GUI of the player, and it seems in this version they’re still not updating it.