Nothing fancy here, just a rollercoaster ride at Disneyworld taken with my Canon SD 500. The video is re-sized and re-processed into Flash Video, which takes a while. The service is somewhat like flickr, although not nearly as well organized and the U.I. is pretty bad.
This service and Google Video are on the cutting edge, however, and with more and more people using digital cameras that take decent video, they will only get better and become more popular.