Facebook Supporting the iPad
Looks like my theory on transcoder use in order to support the iPad wasn't off - that's exactly what Facebook has started to do:
As ReadWriteWeb notes, this implementation is not HTML5, which is what YouTube, Vimeo, Brightcove and a host of other video services are starting to support. Instead, Facebook is doing device-based transcoding (something that SaaS companies like Encoding.com provide) and converting the video so that it plays back in a QuickTime-compatible format within the iPad’s native video player.
As time goes by, I expect more sites to move to HTML5 or use Transcoding - and I also expect Flash usage to start dropping. Flash was the video standard for the web, but I think these sorts of moves prove that it's being dethroned....