I think Flowplayer is the first decent Flash Video player that you can use on your website completely free of charge.
Flash Video Player is also nice, but free only for non-commercial use.
One issue I did have with Flowplayer, when I used the basic code for embedding, was that it seemed to ignore the setting not to loop the video. Eventually I solved the problem by using a simple playlist instead.
Playlists are a great feature. You can line up a series of videos and mix in still images too. If you don’t set a duration for a still, it will pause the playback until the user clicks.
Here is an example of the code I’m using to embed Flowplayer and you can see the player in action in yesterday’s entry.