Those shots in the video, which involve slow panning were done with the equipment we saw being used last fall in Lundy Canyon. The gear is called Dynamic Perception and appears to consist of a six foot rail with camera dolly attached. They mount it on two tripods and have motor control to shoot video (Canon 5D II or Canon 7D and others can do this in high def). It's all way above my head, but now I understand what they were doing.
Hey, you're right!
I'd forgotten about that weird setup we saw in Lundy, but that must have been what they were doing. Maybe it was even the same gang who made this Yosemite video...just on the other side of the hills.
Good catch, Lighthawk!