Correct, there's no mandatory support for any audio or video file format yet in ePub, but you could declare them in the OPF file and if the reader support them, it'll work.
Currente ADE is the only real ePub reader available and strictly use SWF for this purpose, but this may evolve in the future.
Concerning ePub adoption: many publishers announced that they'll work with ePub in the future (check the IDPF website or Teleread). On Feedbooks, we've had dozens of thousands of ePub files downloaded already.
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