Hornswaggled

Short and Sweet version, Just add this to the end of the video:

#t=0m56s

A bit longer explanation follows. This feature has been put for awhile now but I just recently started using it and is one that will come in handy: YouTube allows you to send visitors through links to a specific point in a video by appending a short tag to the end of a video’s URL. It took YouTube some time to add this functionality, especially when you consider Google Video introduced the same feature over two years ago. 

To specify a time, append a tag to the end of your video link with the following: “#t=1m15s”

Here’s an example:
http://www.youtube.com/watch?v=47OmzqOnc9Q#t=1m31s 

YouTube also automatically detects when someone mentions a specific time in a video comment and adds a hyperlink to that point within the video. While YouTube is not always popular for the right reasons (see this now-famous comic) the service is still hugely popular. This feature enables users and researchers to specifically pinpoint the areas of interest within the video. 

It would also be nice if they had a feature to allow for the stop of the video at a certain point therefore allowing you to send a complete snip-it of a certain section.