I've just created the jQuery Media and jMedia wrapper modules for those two jQuery plugins. I am excited about both of them, which are similar. I'm already using jQuery Media for the audio player for Air America Radio (to be launched next week), and found out about jMedia today while researching other uses for the plugin.
Basically, these plugins will replace links or other text with Multimedia, automatically compatible with the browser. They both support audio and video, and come packed with cool features that I haven't even finished exploring yet.
I'll show you how it works next week after Air America's launch. But I'll let you know, it's really, really cool. Makes developing multimedia intensive sites super easy. And I'll definitely have to put it in Drupal Multimedia, my book that should be published this summer.
I plan to support one or both of them in Embedded Media Field as well, as it should make theming that easier than it currently is. They both already support jQ out of the box, for easier administration.
And that's just the beginning...