It looks like a great improvement and should help a lot of yahoo search visitors,
https://www.google.com/googleblog/ features more information on new google video search,
If you have videos to be put online send a request here services.google.com/inquiry/video
Google's new video searches TV programs, Check it out here: http://video.google.com
What google says about their product
"Our mission is to organize the world's information, and that includes the thousands of programs that play on our TVs every day. Google Video enables you to search a growing archive of televised content – everything from sports to dinosaur documentaries to news shows.
Just type in your search term (for instance, ipod or Napa Valley) or do a more advanced search (for instance, title:nightline) and Google Video will search the closed captioning text of all the programs in our archive for relevant results. Click on a program title on your results page and you can look through short snippets of the text along with still images from the show. Visit the "About this show" side panel to learn when this show will air next."