What I like about the current flash player is its simplicity! "Click to Play", forward, pause, volume--no complexities to to confuse and confound the person new to internet video.
I am bringing a lot of my customers, clients and colleagues to internet video for the first time. They want and need an intuitively easy-to-use player. They just want to watch a video about painting their house, and then go paint their house. A bunch of fancy flash controls and features flashing out when they mouse-over is just an annoying distraction from what they came for. Now, I personally, like those extra snazzy features. But, please keep them under wraps or optional, so those who need "simple" can have it. Thanks for all your good works there at Blip! John