Generally WordPress will turn your videos into embeds whenever you type in the normal URL, ie.
There was a bug affecting the vimeo oembed in WordPress core, which has been resolved in 3.3. However it seems the Smart Youtube plugin overrides these simple URLs (without httpv:// for instance) and leaves them unprocessed.
I'd like to use both Smart Youtube AND the core embed functionality so if other users are posting and use the traditional format, they will work alongside the Smart Youtube specific URLs.
Has anyone found a work around? Is there potential for a fix in an future plugin update? Thanks!