Youtube uses more than one profile depending on format and resolution. Hardly a surprise since they goal is to support as many devices as possible. A quick investigation on one video (16:9) showed the following h264 Youtube formats:
1) format 18: 360x270 Baseline Profile, ~700kbps
2) format 34: 640x360 Main Profile, ~700kbps
3) format 35: 854x480 Main Profile, ~1Mbps
4) format 22: 1280x720 High Profile, ~2.4Mbps
Only the smallest resolution is BP, and with this bit rate it will easily decode on the CPU anyway. Formats 2 and 3 should be doable with a good DSP decoder (if exists), maybe even CPU. Format 4 is unlikely to ever decode on Pandora.