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

64 bit, and Linux support will be nice. Flash still (in two thousand freaking nine) lacks in this area. Just having some real competition is always good. If the major video sites start using this along side Flash, or even in place of Flash; That will be one less proprietary program I will need. Open source means faster innovation. Give it time, people will create a way to deliver DRM protected videos with it.