There is a great little peice of functionality on the daughter window player for this this mtvU peice.
Take a look at the resize abilities to the left of the back|pause|forward control. You can either reduce the player, use it in the default load, double the size of the video, or make it full screen.
It only works in IE and I'm guessing it will only work on windows which sucks, but it's very well done. Kudos for keeping the vidoe going during resizing. I'm not sure if this is built into Flash or not, but it's a great example of their new video abilities.