Index: wp-admin/includes/media.php
===================================================================
--- wp-admin/includes/media.php	(revision 21157)
+++ wp-admin/includes/media.php	(working copy)
@@ -1152,8 +1152,22 @@
 		'extra_rows' => array(),
 	);
 
-	if ( $send )
-		$send = get_submit_button( __( 'Insert into Post' ), 'button', "send[$attachment_id]", false );
+	if ( $send ) {
+		if ( isset( $_POST ) && isset( $_POST['attachment_id'] ) ) {
+			$attachment_parent_id = wp_get_post_parent_id( $_POST['attachment_id'] );
+			$parent_type = get_post_type_object( get_post_type( $attachment_parent_id ) );
+		}
+		elseif( isset( $_GET ) && isset( $_GET['post_id'] ) ) {
+			$parent_type = get_post_type_object( get_post_type( $_GET['post_id'] ) );
+		}
+
+		if( isset( $parent_type ) )
+			$parent_type_singular = $parent_type->labels->singular_name;
+		else
+			$parent_type_singular = 'Post';
+
+		$send = get_submit_button( sprintf( __( 'Insert into %1$s' ), $parent_type_singular ), 'button', "send[$attachment_id]", false );
+	}
 	if ( $delete && current_user_can( 'delete_post', $attachment_id ) ) {
 		if ( !EMPTY_TRASH_DAYS ) {
 			$delete = "<a href='" . wp_nonce_url( "post.php?action=delete&amp;post=$attachment_id", 'delete-attachment_' . $attachment_id ) . "' id='del[$attachment_id]' class='delete'>" . __( 'Delete Permanently' ) . '</a>';
@@ -1929,6 +1943,14 @@
  * @return unknown
  */
 function wp_media_insert_url_form( $default_view = 'image' ) {
+	if( isset( $_GET ) && isset( $_GET['post_id'] ) )
+		$parent_type = get_post_type_object( get_post_type( $_GET['post_id'] ) );
+
+	if( isset( $parent_type ) )
+		$parent_type_singular = $parent_type->labels->singular_name;
+	else
+		$parent_type_singular = 'Post';
+
 	if ( !apply_filters( 'disable_captions', '' ) ) {
 		$caption = '
 		<tr class="image-only">
@@ -2009,13 +2031,13 @@
 		<tr class="image-only">
 			<td></td>
 			<td>
-				<input type="button" class="button" id="go_button" style="color:#bbb;" onclick="addExtImage.insert()" value="' . esc_attr__('Insert into Post') . '" />
+				<input type="button" class="button" id="go_button" style="color:#bbb;" onclick="addExtImage.insert()" value="' . esc_attr__( sprintf( 'Insert into %1$s', $parent_type_singular ) ) . '" />
 			</td>
 		</tr>
 		<tr class="not-image">
 			<td></td>
 			<td>
-				' . get_submit_button( __( 'Insert into Post' ), 'button', 'insertonlybutton', false ) . '
+				' . get_submit_button( sprintf( __( 'Insert into %1$s' ), $parent_type_singular ), 'button', 'insertonlybutton', false ) . '
 			</td>
 		</tr>
 	</tbody></table>