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http://blog.chromium.org/2011/01/more-about-chrome-html-video-codec.html
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http://news.cnet.com/8301-30685_3-20025721-264.html
Imperfect? Yes, but Firefox could later build-in support to hand over duties to the operating system. Microsoft (and certainly Apple) seem supportive of that. I suppose the same sort of hand-off could happen on Chrome's side, but it makes the situation about an order more complicated to have two browsers pulling these antics.
Google shipping Flash doesn't have relevance to whether they care about a patent-encumbered <video> tag, but does have relevance to whether they care about patent-encumbered web video as a whole.
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