In the last 3 days I have been experimenting with both Theora and WebM. I
have to say that in my results VP8 was disappointing compared to H264 and
Theora. Using free codecs I got my best results in Theora using ffmpeg2theora
with "-v 10 --speedlevel 0 --optimize" flags. Quality is a little beyond the
topic but I will mention it anyway.
http://imagecrab.com/up/a606f3405e155bab3054c92fbde65630.jpg
http://imagecrab.com/up/09dd47ab8591bf0b51eb9e5efc611af9.jpg
At 720p the difference is more clear
http://imagecrab.com/up/249e311c95c2ff35932e8c4fac97b0f7.jpg
http://imagecrab.com/up/264c493a9bda79206adec515236c6f64.jpg
To encode, Theora unfortunately takes double the time for VP8.
About the topic, all videos play perfectly in Abrowser including 1080p.
Youtube HTML5 takes more cpu than expected, though. I use ViewTube and play
webm in totem.