Lest youtube viewers think it impossible, I'd like you all to try this link and comment.
A colleague and friend has linked his recent trip video to Taiwan. It's available in glorious 720p, and with a good connection shows you just how good online video is going to be! (just in case you were planning on investing in a broadcasting company anytime soon).
We have a 6 MB connection here, and there is no stuttering, stammering, or glitching to be seen.