Ultimately, this is all that is supported by browser developers. HTML 5 has rich functionality, but the final version may take years. There are some difficulties in implementing functions such as support for audio and video in 4 (+) main rendering mechanisms, as well as their behavior the same. Even validation will be challenging. Most browsers other than IE support the canvas and SVG elements, but they still only account for about 25% of the market. If IE still gives 75-80% of the market share, users who do not use or do not pay attention to alternatives will not be able to use more advanced functions, which gives developers a tough solution.
IE8 only finally implements the support that other browsers used for users, which means that the IE user base will always lag behind in compatibility. Although HTML 5 is a good idea, I think proprietary solutions like Flash / AIR and Google Gears will still provide standardized support for the rich features offered by HTML 5. The biggest problem is standardization - you need to create the site with the largest percentage of users as possible. However, there is hope. Mozilla has created a plug-in for IE - we could see an open-source IE add-in that brings it to a specific standard that users can install just like Flash.
They are very open to Microsoft credit with the development of IE8 and Windows 7 (see their project blogs), so it is likely that more active development of IE will accelerate the adoption of HTML 5.
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