This may have already been posted but here's the link below anyway: Th article suggest Google will be able to do this in videos too. http://www.marketingpilgrim.com/2008/01/google-soon-to-recognize-text-in-images.html I'd guess this will be in the serps for videos and images not the common text.
it is very interesting.. you are right may google count as back link. it will be nice. Also i read, google will index all changes on web sites only in 5 minutes. So we won't wait for index for 1-2 days any more.
Shows why google is on top ... always thinking ahead and pushing the boundaries. Never settles for being on top.
I think it will be a very difficult task to read the text correctly with unusual fonts. So the capthas may still work. Will they count the links in video? I don't think they will do it for now.
Was going to blog about this yesterday, but decided against it since I didn't want to bore my readers. This is amazing if they can pull it off... but I'm not sure how efficient the system can be.
Wow, I can think of how that will screw several things up. Of course, there are plenty of pros to this as well, but the cons are almost equal.