Is it gonna look as good as a Iphone 4 or a Omnia HD?If not Im not gonna bother you know, I checked on YouTube, and it looks just like the normal video on the N1.
The iPhone 4 has better camera, so it won't be as good. That said, I would rather use the nexus video hack at 480 with 30 fps rather than 720 at 20 fps. They may still improve the hack to match the iPhone though, we have to wait and see.
480p @ 30fps works on Froyo; you just need to be rooted and edit the media_profiles.xml file and set the fps to 30. You can also set resolution to 800x480 if you wish.