Using Autoblog to Automatically embed youtube videoes

Hello, I am trying to integrate the method outlined here in the following link into the autoblog plugin so that when pulling in an RSS feed from youtube, the videos get automatically displayed on my WPMU site. It looks like both the autoblog plugin and the method below both use fetch_rss, I just dont know how to combine them.

<?php
$youtubeid = strchr($item['link'],'='); //split off the final bit of the URL beginning with '='
$youtubeid = substr($youtubeid,1); //remove that equals sign to get the video ID
//Now embed the flash:
?>
<object classid="clsid:D27CDB6E-AE6D-11cf-96B8-444553540000" width="320" height="265">
<param name="movie" value="http://www.youtube.com/v/<?php echo $youtubeid ?>&hl=en&fs=1" />
<!--[if !IE]>-->
<object type="application/x-shockwave-flash" data="http://www.youtube.com/v/<?php echo $youtubeid ?>&hl=en&fs=1" width="320" height="265">
<!--<![endif]-->
<p>">View movie»</p>
<!--[if !IE]>-->
</object>
<!--<![endif]-->
</object>

<?php endforeach; ?>

from here:
http://www.thesheep.co.uk/2009/03/17/adding-a-youtube-feed-to-a-wordpress-template/