Last night Google announced at the AdSense blog that now all US publishers who are in the AdSense program can add video units to their sites. A video AdSense unit looks like this:
At the end of the AdSense Blog post it says:
If you're ready to get started now, sign in to your AdSense account and head for the AdSense Setup tab. Click the video units link and you'll be on your way to setting up your first video unit.
So I login to my account as a US publisher and I do not see the video unit option, and neither does anyone else. There is a lot of forum discussion about the lack of the feature at WebmasterWorld and DigitalPoint Forums.
Here is a screen capture of my AdSense Setup page:
Ok, so it is not there, hopefully we will see the new ad units shortly. If you are really eager to see how it works, Google has posted a detailed support section on AdSense help for that. Plus there is a ton of coverage on Techmeme.