The camcorder interface is identical to the still camera's. You can control the white balance, sharpness and the video resolution among other things. The LED flash can be made to work as a video light, too.
The Nokia Lumia 925 shoots 1080p and 720p videos (720p is the default mode). The OIS comes into play here if you're holding the phone in your hand (we doubt many people carry tripods around).
Videos have excellent detail and very nice colors. The framerate is perfectly smooth and dynamic range is quite decent as well. The OIS contributes a great deal to the overall quality when shooting handheld as it reduces the unpleasant shaking of your hand. Continuous autofocus behaved well, too, adding up to very impressive overall performance.
The bitrate of the 1080p video was around 20 Mbps while the framerate hovered around the 30 fps mark. The Lumia 925 has a two high-dynamic range microphone setup (meaning it can capture loud sounds without distortion) but even so audio is recorded in mono only (96Kbps, 44.1kHz).
With 720p videos the bitrate fell to around 16 Mbps with the same 30 fps framerate. Audio is mono again too.
Anyway, here's a 1080p sample we uploaded to YouTube:
The Nokia Lumia 925 is ready to bump heads with the likes of the Lumia 920 and the Apple iPhone 5 in our video quality comparison tool. Once again you should consult the tool's page for information on what to look out for.