Google I/O 2011: YouTube's iframe Player: The Future of Embedding will tell you all about the past's future. You might be able to find an alternative on to iFrame on the YouTube Developer section but I'd watch that video first on why they chose an iframe.
Most often than not, static assets like JS files are cached by your browser. Meaning future requests pull from your browser's cache rather than fetch a fresh copy. There is something called a TTL (Time to Live) written in the header of the file that determines how long the item can be cached. Some resources are set to 0, in which case the next request won't pull from the cache. But my hunch is Google set their TTLs to something pretty reasonable.
If you to find an alternate that allows you to only enqueue a single script and no iframe, consider overriding the default embed for YouTube. Just take note of the first time you create an embed to add the scripts, then every other time after that just show the video markup.
add_filter('embed_oembed_html', 'override_youtube_embed_oembed_html', 99, 4);
function override_youtube_embed_oembed_html($html, $url, $attr, $post_id) {
static $count = 0;
$pos = strrpos($url, "youtube.com");
if ($pos === false) {
return $html;
}
$message = '';
if( ! $count ) {
$message = 'First bit of embed magic! ';
}
$count ++;
return $message . "Your Magic Here! How many magics so far? " . $count;
}