Thanks for pointing this out Nathan. Its something that I often forget about.
With bbCode support you can really embed anything that you have bbCode extensions for. For example you can embed YouTube video, images, music, etc. as long as you have the add-ons to extend the bbCode set.
One add-on we've used with good success is
AME.
Edit: In my original post I mentioned AME. We have used that in other areas of the site but Nathan just told me that AME is limited where it will work in vBulletin installations. Unfortunately it does not currently work when attempting to embed images in Garage entries. That said other bbCode extensions should extend what you can display in the text areas of your Garage. Here is a list of bbCode extensions on vb.org that should help. There are extensions for YouTube, PDF, and more.