YouTube has now launched a bigger version of its video player. The decision to do so came after a large amount of feedback about things that users would like to change about the site indicated the need for a bigger size.
"We're expanding the width of the page to 960 pixels to better reflect the quality of the videos you create and the screens that you use to watch them," says the YouTube Team. "This new, wider player is in a widescreen aspect ratio which we hope will provide you with a cleaner, more powerful viewing experience. And don't worry, your 4:3 aspect ratio videos will play just fine in this new player."

It makes perfect sense that they would release the larger player to support widescreen and HD videos. The news comes straight from YouTube not long after users started noticing some quiet HD testing.
Like I said then, it is a bit surprising that this did not come about sooner, considering success Hulu has enjoyed this year. That success just might be the catalyst for getting this (not to mention many of the other moves from YouTube in recent memory) kicked into gear. YouTube also recently decided to start looking to offer feature length films, and live programming, and after sitting on the site for a couple years, Google suddenly seems very interested in the monetization of the site.
YouTube is the most recognizable brand in online video so far, and clearly, they are serious about staying that way now that they are making these efforts. As usual, YouTube is requesting feedback presumably so they can make further improvements.
RE: YouTube High Quality
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You Tube High Quality
This is great about the wide perspective, but one thing is still a problem and that is the High Quality version will not embed, which to me makes no sense. If I place a High Quality vid up I want everyone to see it that way no matter where it is. You Tube needs to look at that. When this happens then we'll certainly see monetization etc. ability from You Tube.