The “Sublime” video player is a new HTML5-based video player, offering you a way to stream video directly in to a browser without the need for any plugin (Silverlight, Flash, etc.)  The project looks to be in relatively early stages, but works fine on my Chrome browser, supports Safari now, and will support Firefox soon.  The project also states that a ‘fallback to Flash’ mode for IE will be supported soon too.

Definitely looks like a project to watch.  While I assume there will be more projects like this in the coming months, Sublime may become one of the default choices for a generation of early adopters.