As always, pretty cool, but from the first look of it, appears quite preliminary. The search was very slow and very often results were returned with screen shots but no video! Try searching for “Bachchan on Charlie Rose”. You have to go through a couple of screen before you find the text “Video is currently not available”. (this text can be more “in your face”).
Google released a video viewing capability. The results of any search are a bunch of screen shots of the video starting at several points during the actual complete video — i.e., start of 1 minute, 10 minutes etc. You also have the ability to search within that video produced by the original search. Double clicking on the screenshots gives you the video in full screen mode. You can also sign up to upload your own videos for potential inclusion in future versions of Google videos. I am sure there are a lot many more wonderful features that go with this service.