yes! you can also make use of youtube and adsense to make bucks. its no surprise afterall bcoz of its huge traffic and there will always be people who dont know if an ad is there and the advertisers can get another option.

how one can get a benifit depends on the type of blog you have, if you have a video site then its one of the best options as perople tend to ignore text ads on video sites. This can be helpful even if you are making a lot of personal videos.

AS of now it says there will be no intrusive ads and will be enhanced user experience. we can see about it soon though. well i have seen an adsense ad which leads to unrelated site which it should not.

Enhance your site with high quality, relevant video content from YouTube partners, and earn extra revenue along the way.

• Relevant, Premium Content
• Deliver high quality video content to your site. Choose categories, individual content providers, or have Google automatically target your site's content.
• Targeted, Non-Intrusive Ads
• Earn revenue from relevant, user-friendly ads targeted to your site and to the videos being played.
• Enhanced User Experience
• Attract and retain users with highly relevant, frequently refreshed video from popular content providers.
• Customizable Players
• Customize the color theme and layout of the player to best fit your site.

If you have an adsense account and a youtube account then its quite easy else you need to create one.

Visit Adsense - you tube page fore more details.

hope it has helped you. Do share what you think about it in comments.