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The way I understand it (and I'm not an expert so correct me if I'm wrong), you can embed your own player in your html5 coding and if the browser or server doesn't support html5 video, it automatically switches back to flash video / mp4 h.264. Also there is a license conflict between FireFox and html5 video. In some discussion I followed some time ago the conclusion is that if you chose for html5 video and you want your site to be compatible with all browsers, you need to have 4 different versions of your videos, in 4 different formats. The conclusion was: html5 video is probably not going to make it, stick with flv/mp4 for now. If you publish for iPhone or iPad only through dedicated sites it's another thing of course, I'm talking about web html only.
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