It looks like the N64 emulator of choice is going to be Mupen64.
I was going to copypaste the contents of the respective message in the
VBA thread, but it looks like there are other factors.
✓ There's a way to detect its format (against, say, audio files)
✓ The file format contains information about video playback rate (Hz) (if non-constant)
✓ There's a way to detect if the movie begins at console power-on
✓ The file format contains rerecord count
✓ There's a way to calculate movie length without iterating the whole file through (there must be a method that works for all movies that are accepted by the emulator, including files that have garbage beyond the end of the stream)
✓ The file must be one piece (no separate required savestate files)
✓ The movie must be immune to savestates and saveRAMs present in the movie watcher's system
Things marked with ✓ are ok, things marked with X are either not ok or need verifying.
There seems to be an issue with leftover SRAM files (file extension ".eep"). If I watch the Mario64 movie close to its end, and attempt to restart it, it's not going through the Princess and Lakitu intro scene, but instead Mario immediately starts outside the castle outside.
It would be nice if a movie could just be loaded and it works, just like that.
X The biggest problem in N64 games we can expect is the emulator compatibility.
Basically, each N64 game is a different story, as for how it works in Mupen64, and under which plugin settings it can be expected to be run. It can easily become an unnecessarily big amount of work if it's the controller settings are not standardised, and need to be manually changed every time a new movie is loaded.
X Another issue we haven't decided yet, is what are the standards we use in the encoding of the AVI/MKV files. Resolution, antialias settings, and so on. Same for the screenshots.
✓ Of course, we need people to have ROMs of N64 games, too...
[Edit: Dropped down the "announcement status"]