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http://www.netbooknews.com Hakon Wium Lie CTO of Opera was at Google I/O last month and talked about what WebM & HTML5 were going to mean for the internet.

Google has announced a new multimedia codec called WebM which the search giant is pitching to become the standard for web video.
The WebM codec combines the VP8 video codec with the Ogg Vorbis audio codec and the Matroska container format. The idea is to deliver high quality video that can adapt to varying bandwidths. Also, since it make efficient use of bandwidth, it will save content publishers cash. But it's a new standard so we it has yet to prove itself as a legitimate competitor spec wise.

Yesterday Opera released its browser update implementing support for WebM, VP8 & HMTL5. According to their press release here are the advantages.

What is new?

Performance: Do not let your browser slow you down. The world's fastest browser again storms ahead of its predecessor, boasting a 50% faster online experience as compared to the previous version.
Geolocation: Let your browser find it for you. Geolocation detects your location and maps you in the middle of the action, for example giving you the most accurate search results in your area.
Video: Opera now comes with high-quality, open video format WebM, built right into the browser, making viewing videos online even easier.
HTML5 Appcache and Web Workers: Appcache lets you use different applications, such as word processor, image editor, spreadsheets and much more, in your web browser even when offline. Web developers can now also use HTML5 Web Workers for doing heavy calculations without making the browsing slower for the user.
Search suggestions: Opera 10.60 beta makes search more efficient, introducing search suggestions for selected partners in the Speed Dial and search box. You can test this in the beta with Wikipedia search.
Custom thumbnails for tabs: The interface in now more intuitive, as the previous thumbnails have been replaced with icons, making you a faster navigator.
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