When I search for something, I rarely get relevant results. Many times, i just end up searching for the video in Safari because YouTube’s official search is better.
Apple designed the app; therefore, it’s highly likely they did not use the same search algorithm that Google uses for their YouTube search engine (the reason being that it’s similar to their Google search algorithm).
But then I still occasionally get a “video not found” message when Safari launches the YouTube app.
I’ve found that this error occurs most often due to the video not being enabled for viewing on mobile devices.
Something interesting that I think is worth pointing out is the behaviour of YouTube embeds on iOS. When videos are embedded using the old embed code, the YouTube app plugin plays the video. But when a video is embedded using the new HTML5 embed code, Safari plays the video like any other HTML5/Quicktime video. I’ve found this to be a big reason why the YouTube site is faster than the app.
Another (most likely unrelated) thing I’ve found is that when HQ is turned off on the site, the video is streamed in 3GP format rather than M4V.