Latest firmware has added a start_x.elf which includes extra (free) codecs: MJPEG, VP6, VP8, Ogg Theora, and audio codec: Ogg Vorbis. MJPEG has also been added.
Note, this is experimental. I'll teach you to test it.
To use the start_x.elf, you should run rpi-update as usual, and add this to config.txt
Wanna test it now?