Embedding video in HTML is very easy now, (no need to code streaming apis).

All we need to do is just use videos same as how we embed image. Firefox3.1 has this feature enabled and its very simple.

<video src="videofile.ogg" autoplay>
  Your browser does not support the <code>video</code> element.
</video>

This will embed video in your page and starts steaming when sufficient data has been received.
Check the sample videos hosted at [2]

References:

1. https://developer.mozilla.org/En/HTML/Element/Video
2. http://www.double.co.nz/video_test/