I just wanted to post something to acknowledge the hard work of the following people that have made this project possible.

A big thank you to:

The guys at Xiph.org that have provided us with the Vorbis and Theora codecs. Awesome work guys.
Firefox and Opera for supporting Xiph and promoting the idea of universal and free video for all.

and extra special thanks to two people that have made major contributions to the project:

Robin Watts for the theorarm code. Without this we wouldn't really be able to play theora at decent frame rates at all.
Robert Alcock for providing optimised YUV conversion code. Again this helps boost frame rates considerably and consequently make a major contribution to improving the quality of the video playback.