Facebook video is actually pretty good!
Below is a video that I took on last weekend's bike ride. I shot the video with my Flip Mino Camera, which records video in 640×480 resolution. The movie was edited and rendered with the FlipShare software, and the finished movie was about 350 MB. Facebook handled the file quite well, and it looks great. File size for uploading to Facebook is limited to 1 GB and 20 minutes in length, but that's more than enough for my short videos. The video uploaded quickly (although I didn't see a status bar) and rendered almost instantly.
2009 Athens Quilt Barn Ride from Chad on Vimeo.
So who do you think wins?