starting point for dealing with embeds from the _format_video_embed meta feild

post_format_embed.php

<?php
// Display Videos

// Utility function - allow us to strpos an array
if ( ! function_exists( 'video_strpos_arr' )) {
    function video_strpos_arr($haystack, $needle) {

    if( !is_array($needle) ) $needle = array($needle);

        foreach( $needle as $what ) {
            if( ($pos = strpos($haystack, $what) ) !==false ) return $pos;
        }

        return false;
    }
}

// Get Ready Display the Video
$embedCheck     = array("<embed", "<video", "<ifram");// only checking against the first 6
$mykey_values   = get_post_custom_values('_format_video_embed');
$media_to_display = '';

// iterate over values passed
foreach ( $mykey_values as $key => $value ) {
     if ( !empty($value) ) {
        $firstCar = substr($value, 0, 6); // get the first 6 char.

        // if its a http(s).
        if ( strpos($firstCar, "http:/" ) !== false || strpos($firstCar, "https:" ) !== false ) {
            // send it to wp_oembed to see if the link is oembed enabled.
            (wp_oembed_get($value) !==false ?
                $media_to_display = '<div class="video" style="width:100%; overflow:hidden;">' .
            	wp_oembed_get($value) . '</div>' :
            	// if not output a link.
            	$media_to_display =  '<a class="button videolink" href="' .
            	$value . '" target="_blank">Video link: ' . the_title() . '</a>'
            );
        }

        // if its the embed code that matches our array defined above.
        else if ( video_strpos_arr($firstCar, $embedCheck ) !== false ) {
        	$media_to_display = '<div class="video" style="width:100%; overflow:hidden;">' .$value. '</div>';

        }
    }
}; // end foreach

if ( is_singular() ) {
	// output a filtered excerpt displaying the result of the conditionals above.
	echo apply_filters('the_content', $media_to_display );
	the_content();
} else {
	// output a filtered excerpt displaying the result of the conditionals above.
    get_template_part( 'loop/loop', 'indextitle' );
	echo apply_filters('the_excerpt', $media_to_display );
	?><p><?php the_excerpt(); ?></p>
	<a href="<?php the_permalink(); ?>" class="button">Read More</a> <?php
}