First off Thanks for the great plugin.
The feature I'm requesting is for the ability to use HD video. It would be nice if we could upload an SD and HD version of the same video so we could use the flashvar "hd-1". Maybe have a separate input box on the "edit media file" section of the plugin that says "HD Media url".
Maybe a section on the same page that allows you to use flashvars on a per video basis?
Anyway, the plugin is wonderful, I just hope to see it support HD in the Near Future :)