I agree with
_tasos for the fact that it will not be supported with IE8.
But yesterday I came to know about a workaround called
html5shiv[
^].
Quote:
The HTML5 Shiv enables use of HTML5 sectioning elements in legacy Internet Explorer and provides basic HTML5 styling for Internet Explorer 6-9, Safari 4.x (and iPhone 3.x), and Firefox 3.x.
So, you can try with
htmlshiv
.
Just include the file in your page and try the video tag, it may work.
Good Luck.