I have an idea of synching the time-stamps of the GPX waypoints (being created with GPS reciever) and the video captured by the digital camera of a device (having both GPS receiver and digital camera).
In this way video trails can be created which would show the exact video footage corresponding to the GPS coordinates of that place.
To achieve this creation of a application for the device which binds the flow of GPS data with the video being captured at that time.
Playing should be easy.When the video (having GPX data synched with it) is played then the corresponding location,altitude could be displayed as an overlay to Openstreetmaps.The video faeture could be embedded with openstreetmaps API.
Please give your suggestion on this idea its not implemented anywhere till now.It would be one step ahead of Geo-tagging.
I don't think any video feature will be embedded with the OSM API anytime soon, but if you'd like to try it go for it. Disk and bandwidth requirements would be high unless you take advantage of Youtube/Vimeo/etc, but I'm not sure if they provide metadata to include real-world date/time, or if it's stripped off. Check out the related and existing JOSM VideoMapping plugin. However, the plugin still needs lots of work, so if you're willing to contribute to that it would be greatly appreciated. Also check out this wiki page on video mapping.