Hi,
Not really. It doesn't record in 720p HD (like, say, the Galaxy S or the Nokia N8 or the iPhone 4 or the HTC Desire HD or the LG Optimus 7).
Some of the latest phones do even better... full 1080p HD (say the LG Optimus 2X, or Galaxy S II)
The Nexus S by comparison only does 720 x 480 pixels.
Here's a YouTube sample of a Nexus S video
http://www.youtube.com/watch?v=ZM0n0H179jY
