Delivers ogg/theora (and optional webm) html5 video from an external storage location with fallbacks to flash, and links for download.
I have developed this plugin to provide an easy way to implement the "Video for Everybody" approach on a WordPress site.
I also wanted a way to update the delivery for all of my video files. As I update the plugin, existing video will be served using the new code.
Finally, I wanted to have a settings page so that I could spare myself the trouble of adding repetetive details to each video entry.
Ultimately it's for myself. I created the External "Video for Everybody" plugin to suit my own priorities, but I also tried to put it together in a way that would make it useful for and usable by others, and I am happy to share it. I host my video outside my WordPress site. I want to use HTML5, Ogg and Webm. So... External "Video for Everybody"
The Theora Cookbook has a lot of information on how to encode .ogv files.
The Miro Video Converter is a handy free and opensource utility for this purpose.
You might also be interested in trying a shell script I use to convert videos for myself. The shell script depends on your having certain command-line tools installed on your computer: ffmpeg and qtfaststart.py in particular.