It looks like the popular saved replay idea from Halo 3 is catching on. Wii's recently delayed Super Smash Bros. Brawl will incorporate video recording and sharing of brawls and target smash mode. The announcement from the game's creator Masahiro Sakurai is buried in the second half of his latest blog update. The first half mentions target smash mode, something that has been in the past two games, will also appear in Brawl. So, you may have missed the more exciting second half of his post if you didn't scroll down.
Sakurai says that the game will allow you to record and review up to three minutes of replay data. Then, you can send your favorite clips to your Wii Friends. How many times have you played SSB on GameCube or N64 and wanted to preserve a radical explosion or game-ending move that sent everyone else in all different directions? Now you can do just that in Brawl and constantly remind your soon-to-be-former friends of your awesome victory via Wii-mail.
Two screenshots of the video replay are at Gaming Target.