So Dreamhost has this great feature on their site where you can convert .avi / .mov / what have you, into .flv video for use with their streaming media server. In theory, you can embed that video and player into WordPress posts.
As can be evidenced above, that’s not always the case.
Update: Success! Sorta. Yes, it’s an oldie. Well, it’s the only, technically, but hey, it’s a decent entry!