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Google tries to make a bold step in the right direction by developing a new HTML5 supported video player. 

HTML5 is a new web standard that is gaining popularity rapidly and adds many new features to your web experience, including proper audio and video codec support without having to download a browser plugin.

The biggest hurdle to overcome at the moment is browser support, or lack there of.  The new video player can be used by visiting TestTube if your browser is compatible.