Add to 
Google Video has now started indexing videos from all over the web, including those non-flash videos which are not hosted on sites like YouTube and Metacafe. Google won’t convert videos into FLV from other formats like AVI, MPEG, WMV or MOV, so some videos won’t play online. You’ll have to download such videos in order to view them.
Unfortunately, Google Video won’t tell you which page linked to the video, so that you can go to the page and read what others wrote about the same video. They haven’t figured out a way to get information about the video, which will help them rank videos in search result page. Most search results are dominated by videos from YouTube, Google Video, so I’d assume that Google ranks videos based only on number of views and ranking. Probably, those are the only limitations that I can see.
[Via: Google Operating System]
Written by 
wrote, on November 4th, 2007
Good news. I’ve been searching for that Weird Al video for some time now. Anyway, I think Google is gonna use the feedback from the searchers too. Because there’s only a small number of factors to evaluate the quality and they cant afford to lose on anything.
wrote, on November 5th, 2007
Isn’t this old stuff that Google’s been doing?? I have seen the videos shown from other sites in their search results for sometime now!!
wrote, on November 5th, 2007
This is what Google Video always should have been.
wrote, on November 5th, 2007
That’s what Google video should have been in the first place, anyway.
wrote, on November 5th, 2007
Google indexing Videos, Hmmm, thats cool, but only disappointing thing is that we need to download the video, before viewing it.
wrote, on November 5th, 2007
Saptarshi: Nope, prior to this Google was just indexing videos from other video sharing sites like Revver and Metacafe, but now they’ll index everything on the web (Even those hosted on your severs).
wrote, on November 5th, 2007
I hate google at the moment.
wrote, on November 7th, 2007
Getting videos from the past that you won’t find in YouTube and Metacafe and are unsupported by today’s formats would be great. It’s a step in the right direction if you ask me.