Jun 30
We need to do more than just point the browser at a video file like the image tag does - there’s a lot more to it than just retrieving and displaying a video. The <video> tag certainly addresses the basic requirements and is making good progress on meeting others, but the <video> tag does not currently meet all the needs of a site like YouTube:
YouTube API Blog: Flash and the HTML5
Interesting read on why the video tag is not (yet?) enough, to be a replacement for flash video across the board.
