I agree with the others--video presentations take too long to parse.
Besides, I only watch videos from the 70s. If you want me to watch your video comment you'll have to travel back in time and appear on Don Kirshner's Rock Concert or The Old Grey Whistle Test.
Personally, I find myself skipping past most of the video comments. I think, just like one might see on a site like ValleyWag, the content (or in this case, a video comment) that gets the most clicks will often include a pretty girl.
You can't "scan" the content of video comments like you can, say, this comment. It's an interesting idea, but seems to disrupt the flow of communication.
Case in point, I just watched a 20 second clip of Arrington saying, "Um.. Uhh.." and not much more. His text comments are obviously a tad more engaging.
These seem much more suited to a video site, like YouTube, than a comment thread. Please, Hacker News, don't adopt video comments!