I have used video to record a variety of things. Most recently, at the concerts we attended down in Portland. Although I only took short clips, I wanted something to remind me of the experience (for instanceBlackguard's intensity, and Russell Allen's immaculate voice).

I've also used video while in kwajalein to document fun things, like shark eating and parasite movement.

For drunken daubachery and parties, I feel pictures usually tell a better story. Unless you're trying to shame someone. Then video works excellently.