I just had to try this to see if this works. Below, you should see either my reel or a little message saying that your browser doesn’t support this tag. I can’t wait until this becomes the standard and Flash is dead.

Update:
After a lot of tinkering over the last couple of days, I’ve figured out a few of things:

1. Autobuffering is the really big problem with the HTML5 implementation. John Gruber has an excellent article about this on Daring Fireball. Basically, every HTML5 supporting browser except for Firefox starts downloading the video immediately no matter if you want to watch the video or not. This is bad news for slower connections, mobile browsers, metered bandwidth (like the 250MB iPad 3G plan), and if you plan on using the video tag for more than one video on the page. Firefox doesn’t autobuffer unless you specifically tell it to. That’s what it should do. Hopefully this will be fixed in th is developing standards and future versions of Safari, Chrome, and Opera.
2. It’s kind of like the whole HDDVD and Blu-Ray battle all over again. This time it’s between MP4 and Ogg Theora. Safari (aka Apple Inc) supports only MP4. Firefox and Opera only supports Ogg Theora. Chrome supports both. The problem is that MP4 has licensing fees and Ogg Theora does not. Youtube high-quality and HD videos are MP4s. That’s terabytes and terabytes of data. I doubt Google is going to decide to just encode their entire library to OGV and abandon MP4. It would just be stupid. So for now, I’m going to encode all my videos to OGV as I don’t have so many. The code is setup so it prefers MP4 but will play the OGV if you’re browsing with Firefox or Opera.
3. Notice I haven’t mentioned Internet Explorer yet. That’s because it doesn’t support HTML5. Oops. That’s why we have fallback code. In browsers that don’t support HTML, I’ll have the standard Flash player that I use anyway. So implementing the video tag will require me to not only encode all my videos to OGV (to supplement the MP4s that I already have) and still have the FLV player that I already have. For something that’s supposed to simplify everything, It’s sure adding a lot of code. That’s just the state of things today. In the future when everyone has browsers that support HTML5, it will be really simple

So why am I doing this? I like to tinker with my site, I like standards, and I want people to actually be able to watch my videos in Mobile Safari (iPhone, iPad, etc.). It’s just kind of lame how you can’t right now.