HTML 5 <video> tag vs Flash video. What are the pros and cons?

Question

IMPORTANT UPDATE

This question was made over 9 years ago. It made sense then, it doesn\'t make it now. Flash is hard on its way out; sup

Answer 1

It's also an advantage the video-tag is native to html, so it integrates nicely. This sounds like a non-issue, but it's not. You can for example overlay the video with some HTML caption. And the HTML caption can use the same styles as other captions on the same page.

You also can apply some (future) CSS transitions to the video element: look at this demo.