Mobile websites don't need a flash video player to show video (or a HTML5 capable browser). Modern mobile devices have video player linked to their browsers and you can just link to them from your mobile website. But you need convert the video to a screen size and codec that will work. Here are the settings for Handbrake a great free tool to convert videos. [info_box]One important thing beyond the settings is the file extension - set it to .mp4 to avoid problems.[/info_box]
Please note that this settings cover an array of devices but not all - for example to make it work on all blackberry devices you have to provide versions of the video with different frame rates. If you need that you have to switch to a professional video hosting solutions. Check your Google Analytics Logs to know how many Blackberry Users you have.