Just finished switching from JW Media Player 4 to Flowplayer 2.1.2 at greg-willis.com. What made me switch? Just a little thing - I couldn't get an image to display before the video played. But user experiences are built on little things, and a large black box is not an inviting click target. I drop my videos in the nodes using the SWF Tools input filter. At some point in the future I should create a separate content type, but that's down the road a bit. The code to show an image before the video plays is super easy:
image="videos/namibia-cc-to-uis.jpg"

That is also the code I had for JW Media Player, but it wasn't working in the setup I have now.

And to note, in the 6.x-2.4 version of SWF Tools there's no default setting for the video canvas width and height, so you need to set it in the embedded video:
width="480" height="390"

Note that the height is the height of the video (360 px) plus the height of the Flowplayer toolbar (30 px)making it 390 px. Not sure if that'll be fixed with the next version or not.

So to embed the video, here's the complete code: