[A demo or two, and some more information on a codec we’ll be hearing a lot about for awhile][link]. They’ve got some big claims on [decode speed][decode], and say that they’ve paid special attention to the ARM processor- the same processor used in the iPhone. While that’s nice, I wouldn’t hold my breath for software decoding of VP8 on iPhone.
It looks like the On2 pages haven’t been updated in quite some time, though, so this information could be outdated. I imagine Google will have it’s own tech page shortly.
[link]: http://www.on2.com/index.php?599 “On2 video – Making Video Possible”
[decode]: http://www.on2.com/index.php?605 “VP8 Decode Speed”