Earlier quoted context omitted.
There's a lot of issues with the new player. Even if you've buffered the video ahead, when you try to skip to a buffered segment the video starts loading again. On top of that I've had lots of issues where changing the video resolution just flat out doesn't work and greys out the option.
There seems to be quite a few issues with video resolution. I had one video suddenly switch from 1080p full-screen down to 144p[1] in full-screen... [1] - Apparently they added this quite recently http://www.ghacks.net/2013/04/06/youtube-introduces-ultra-lo...
You know you have fucked up player when congestion control http requests spam more than video stream itself.