You only need to include one format - h264. If you then view it with a browser that doesn't support VIDEO, or does support VIDEO but not h264 (firefox), it'll fallback to playing that h264 using flash (No flv required as far as I see).
However, you can also give firefox some love by adding an ogg version.
So IMHO, this is real tangible useful progress. It makes it easier for developers to use cool new HTML5 features without breaking old crappy browsers.
But at the very least there is one simple client side mechanism for doing all this, you just worry about the encoding and you let google worry about rendering it. It is good progress. We just need about an inch or two more till we hit the finish line though.
You only need to include one format - h264. If you then view it with a browser that doesn't support VIDEO, or does support VIDEO but not h264 (firefox), it'll fallback to playing that h264 using flash (No flv required as far as I see).
However, you can also give firefox some love by adding an ogg version.
So IMHO, this is real tangible useful progress. It makes it easier for developers to use cool new HTML5 features without breaking old crappy browsers.