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Firefox is yes-ish, if the system where firefox is running can play mp4 firefox will play it, if the system can not firefox will need flash fallback.
Basically firefox can not decode the video for playback on its own, but it can now pass it if there is something else to play it (like for example many modern video cards have direct hardware support for mp4 video decoding, so on those it works with no problem)
For full support it's better to keep the fallback, but why do you make a flash version anyway, flash players can play mp4 too, so you either play the mp4 with html5 or fallback to the same mp4 played with flash
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