Without question there is a problem with the video recording in 720p and even below. I noticed the problem when recording my daughter swinging. It was horrible with studdering and ghosting after about 5 sec in. My heart sank. The problem seemed to be random but then I noticed fast moving and bright lighting seems to cause the issue because in dim settings I didn't have a problem. My wife has a Thuderbolt is her video is OK.
I benchmarked the two and the droid x2 had nearly 80& better overall performance but in individual catagories the Thunderbolt has nearly x2 better than the X2. One of these catagories was writing to memory.
By default the video records to an external card. I changed this to internal and guess what? NO PROBLEMS. Its a fix but not the one I want. You can record about 50 min of video in 720p onto the internal storage but then to transfer this to the external card is slow and time consuming. Maybe its the card. Maybe its the lack of RAM with the super fast processor. I don't know. But this is the quick fix. If the issue is not address through a software update or some other fix I will probably return the phone. Its hard to believe someone didn't catch this before it went out the door. I seems every bit of technology I own I am the test dummy and I find the "accident" first drive out.
BTW. On the video is amazing for a phone...really amazing...after the "fix"