Yup, this is how it's supposed to be done.
var so = new SWFObject("http://www.youtube.com/v/I7GA-_KRBo4", "postVideo-38694021-Flash", "425", "355", "9.0.28", "##000"); so.addParam("allowScriptAccess", "samedomain"); so.addParam("allowNetworking", "internal"); so.addParam("wmode", "transparent"); so.write("postVideo-38694021");