One of my friends is doing Video. So far the proposal and basic plan seems fine, as does the future editing (our school provides industry standard Final Cut). Not sure as to how it'll end up translating, though - I hope it turns out well!
However, I've seen a few of the films on youtube and few that did very well I'm not impressed with at all, and vice versa. The time limit is a major factor; it's hard to get as much character and plot development as you would in a written work. Though I have seen a few 44/45s that managed this excellently. (They were from an external viewing so I don't have links, sorry - search around.)
Marking for EX2 is already quite subjective. Unless you absolutely love it/can't write for shit so Video's your best best, why risk it?
Though, if you do, avoid coming across as an amateur in your final work:
- Make sure you hire appropriate equipment, e.g. boom mikes, cameras.
- Get a good editing program. Final Cut is one I'm familiar with, but there are many others available.