Sorry, I have to say this again for people who either don't listen or haven't heard: Amiga Inc. wont *ever* support Pegasos, that much is absolutely certain. That means that OS4 won't run on Pegasos hardware, and Pegasos/MorphOS won't run on an A1. Not ever.
I haven't looked at the video, too big for me to download (its not really suprising though, since most Pegasos supporters are German and have t-DSL). I'm not really interested, either. I'm not (directly) dissing the Pegasos, but I'm as disinterested in it as I might be of a new flavour of UNIX or a new compile of UAE, sorry.
And anyway, you haven't seen OS4/A1 run yet. If they release a video, hopefully it'll be smaller. And better. And maybe it'll have a car chase in it. ;-)