Hi Michael,
Thanks for the link. I did not want to talk about the player choice in this forum post but rather discuss media API.
But speaking about player accessibility, I was recommended able player which works good from accessibility point of view but does not look that great to be honest. Player you linked to has the same problem - it adds a huge controls block under the video which is good for accessibility but unnecessary clutters the interface for majority of users. Videojs looks so much nicer and actually has lots of accessibility points addressed too.
This only proves that point that there is no universal answer which player is the best and we need this media API.
However at the same time I realised that we missed very important point in all previous discussions - should media players be user preference?
We are really close to the code freeze now and I'm afraid I won't have time to add user preferences to the media players before 3.2 release if we want to have media api then.
Also, http://prototype.moodle.net/media/ was updated with the new players (still work in progress).