The codec is MJPEG (Motion JPEG, not MPEG) at 1280x720 resolution and 24P, but it looks like the bitrate is too low to handle fine details like the water ripples on the river.
Some info regarding video shooting with the D90:
You need to use Live Mode for video, with no autofocus. This has 2 disadvantages, firstly it is tough to focus with the LCD panel (my eventual workaround was to pre-focus using the viewfinder before switching to LV) and secondly you can only remain in LV for a limited time before it shuts off. this is due to the camera overheating protection so you could end up in a situation where you cannot even shoot at all until it cools down. Arrrrgh!
The exposure is not easy to control. The shutter is fixed at 1/50s which is fine for video, but adjusting the aperture doesn't seem to do anything. By default, the exposure flickers around all the time as objects move in the scene, or if the camera moves. Howver there is a way to lock the exposure, so at least you can stop the constant auto-exposure adjustments that you see on some D90 video samples. What's not so nice is that you can't easily set wide open aperture to get DOF control.
The fixed 24P causes problems with fluorescent lighting due to the supply frequency being different from the camera frame rate. The flickering effect is not so good.
Overall, it was the codec artifacts on fine details that was a show-stopper for me. The other problems I could easily have lived with to get the large image sensor in a video camera, but I wanted footage that I could use alongside my XH-A1 footage and there is no way the D90 output would hold up. Anyway I have sold off my D90 already. I consider it an expensive training exercise.
BTW, as a still camera, the D90 seems really really nice.
