That is the classic yang style tai chi chuan SECOND SET performed by Hsiung Yang-Ho.

Here we see the second set from the basic eight movements through the first part of 'Gau Tan Ma' 高探马 (Pat The High Horse). And then the camera cuts. I used After Effects 5.5 auto stabilizer to clean up the footage. Now you can clearly see Yang-Ho's form. Enjoy!

Non-stabilized, original title on youTube:
熊門武術---真傳熊氏太極拳111式之標準典範Xiong Yangho (1889-1981)

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