NewTeeVee reported that YT's live video coverage of March Madness is displayed through Silverlight, with the same embed UI and quality as/from CBS Sports. See March Madness! YouTube Gets Live Video Via Silverlight.
And Coke Zero wants you to, umm, taste the madness.
Update: Check out Alex Zambelli’s blog and Ben Wagonner (at Microsoft awhile now) who gives you some details on the March Madness web video, the Silverlight player powering it, and resolutions and data rates used. Via Andy Beach, now at Inlet, which is the first company to make use of Microsoft’s Smooth Streaming initiative.