If you want to make it look better until the youtube functionality improves, you can insert a photo or screenshot of the video, and link that image to the video like this:
Check out this great video of Bill Hicks (click to play):
First, find the photo you want and insert the address using pic icon (looks like a postcard) on your menu. Then click that photo to highlight it, go back to the menu bar and click the internet link icon (looks like a globe) and then insert the address to the video in the pull down box.