if it counts for anything i tried this and can verify the same issue at hand.
2.1
camera = 8mp
video = 720p
i couldnt replicate the issue at first, but then i used these instructions:
-take a picture of something and make it so it barely fits within the camera...
-now don't move or change your distance from this object, simply switch to video record mode and take a short video of the same object... the object will no longer fit on your screen.
and duplicated the issue.
I took a pic of my display so that it just fits, then switched to video. took about a 5 sec. video. went to the Gallery and sure enough the pic was fine and the video was cropped on the top and bottom. it cropped out about and 1 inch, top/bottom.
if it is fixed in 2.2 then its not too big of an issue for me.