Video quality is good, but there is still evident grain. Jitters are also problematic, owing largely to the phone's size and weight.
Holding it aloft for more than a few seconds at a time invariably results in wobbly video - be prepared to brace yourself, or invest in a tripod if you plan on taking much video on the Droid 4.
In camera settings, you can turn on video stabilization, although you'll end up with even grainier footage if you do that. There are also the same Effect as the still camera offers, although they look even more out of place when applied to video.
But the Droid 4 is ace at sharing, offering to upload to Picasa, Photobucket, Flickr or Youtube with a couple of taps.
You can also email videos, or send them as MMS messages, although we would have liked some better controls to manage file sizes.