Yes but i'm viewing it in 1080p on youtube on my monitor with a resolution of 2048x1152. No matter how good the video quality is, VGA video (640×480) will still not look as good.
But then again, my videos never look as good as the ones shown in the demo's (GoPro HD)
Actually, looking closer and pausing the vid (or not) at the guy with blue pants making a flip on the skis, I can see the squares/groups of pixels, which are not visible in the rest of the video. It's WVGA btw, at 848x480. And out of curiosity, why don't you run your monitor on just 1080p ?