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i was glad to see safari 5 released, even though it wasn't mentioned. would have loved to see xcode shown off and at least seeded to all developers
 
Look at the settings in the preference pane. You set the highest resolution you want, and if it isn't available the player steps down to the next available one.

Only that didn't work for me. There was a video I tried to view and all it done was kept cycling because the vid wasn't in 1080, or 720. So until I unchecked it, it wouldn't play.
 
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