In the android forums I read where someone talked about the differences of the Eris to the Incredible. They liken the camera and video of the Eris to being close to the quality of the Incredible. Let's lay this to rest now.
The Eris can only handle 352x288 as it's best quality video. This is fine on the phone itself, but on my 22 inch monitor at home this video recording looks horrible. The edges of the screen have visual wabbles. The Moto-droid has 720 x 480 video capture which looks just amazing. The incredible I believe has a slightly higher video recording then the Motorola Droid.