Steve, that video has already been posted, didn't you see it? The guy panned very quickly laterally & vertically using a CX700, G10 and several DSLRs. To my eyes the worst in that grouping was the 1080p Sony! I contend in a blind folded test you would have no idea which motion was produced by a 1080p unit or a 1080i unit. I think this is truly over-hyped.
IMO this all boils down to how well the Canons work in good light. I'm already convinced there are no other contenders in the area of low light. Yes the Sony produces a very nice low light picture, but the colors are yuk. So how well does the Canon stack up against the King of good light, the Panasonic 700/900? I'll take a relatively small hit in good light to get the kind of low light the Canon produces, but not a big hit.
As I said before, if the only way I can see the good light differences in PQ between the Canon and the Panasonic, is in a careful A/B, then the Canon is certainly 'good enough' IMO. But if it calls attention to itself on its own, then that's not a good sign.