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Featured video allows you to add a YouTube or Vimeo video to one of your posts and get to it using the shortcode [featured-video], next to that you can also embed it right in the code of your theme with the_post_video()!

the_post_video() returns your video standard with a 560x315 resolution. You can pass along the width and height, if you would like to change this, so: the_post_video(600,400) will return the video with a resolution of 600x400.

There are a few other functions you can use in your theme (all parameters are optional):

has_post_video(post_id) // same as has_post_thumbnail(), returns true or false.
get_the_post_video(post_id, width, height) // will not echo the video. Has the option to pass a post_id 
the_post_video_thumbnail(post_id) // show the video thumbnail
get_the_post_video_thumbnail(post_id) // will not echo the video thumbnail directly.
the_post_video_image(post_id) // get the big version of the thumbnail
get_the_post_video_image(post_id) //will not echo the video image directly

This plugin currently only supports YouTube and Vimeo and works with the url's of single video's.