Several sources are reporting that while native audio/video support has been dropped from the HTML 5 spec, the Khronos Group has released a few details about their up and coming WebGL 3D acceleration standard.
"The general principle behind WebGL is to offer a JavaScript binding to the group's OpenGL ES 2.0 system, allowing code run within the browser to access the graphics hardware directly in the same way as a standalone application can. As the technology would rely solely on JavaScript to do the heavy lifting, no browser plugin would be required — and it would be compatible with any browser which supports the scripting language alongside the HTML 5 'Canvas' element."

http://games.slashdot.org/story/09/0...on-To-Browsers