That removed feature was called Zemanta, I miss it as well (I really missed the Recommended Images and Links and Tags), but it was removed by WordPress for unknown reasons (http://en.forums.wordpress.com/topic/removing-zemanta-integration?replies=1); and they supposedly have plans to hopefully add some of those Zemanta-like features to WordPress in the future, and they have already added one Zemanta-like feature already called Related Posts (http://en.support.wordpress.com/related-posts/).
And if you still want to use Zemanta there is a browser extension for it that you can get for your internet browser(s):
Video embeds are easy, just follow the instructions for the video service(s) that you want to add embeds for, they are found under the Video section on the WordPress Support (http://en.support.wordpress.com/) page for Shortcodes:
I am not sure how to answer your Sponsors Question, you will probably have to ask someone from WordPress and/or someone with some knowledge about that, but this WordPress Support page might be helpful:
I hope that information helps you Dsw2 :) ,