This layout was the only one available until version 1.8.
It is recommended for static layouts (fixed width layouts) but not for fluid, elastic and mobile layouts.
So, if you’re building a website today, use preferrably the new fluid layout (default) version 1.8 offers.
Note however that from version 1.8.1 onwards, I’ve added a fallback solution for fixed-width videos. This fallback solution avoids fixed-width videos from breaking or overflowing a layout/design when your website is viewed in a smaller screen or the browser window is resized. The downside is the aspect ratio is not preserved.
Test it right now: Resize your browser window or visit this article with your mobile phone.
Shortcode parameters used:
video=http://youtu.be/CIcIyVQ3E_E w=450