DRI2 Video basically comes down to combining the ideas of X-Video (Xv) and DRI2 for improving video support. This work would benefit TI OMAP video playback among support for other vendors. It's been already talked about on Phoronix for those wishing more background information.
Below is the DRI2 Video update by Rob for those interested. Though due to the DRI3 proposal for X.Org Server 1.14, this might end up being called DRI3 Video.