I know this is a HUGE necro, but I feel like I'm capable of answering most of the questions presented earlier.
I am a First Dan (degree) Black Belt in the art of Koryo Gumdo under master John P Wood (early videos posted in this thread show him and his children) preparing for my Second Dan test this friday (January 18, 2013). John P Wood was appointed Chairmen of WKGD by Grandmaster Duk Gun Kwon, founder of USNTF in 2001.
The form posted in the OP (Moo Sa Gumbup) is one of our Black Belt forms (I believe the 5th Dan's form in particular, but I'm not 100% sure). Generally speaking, our Black Belt forms are demonstration of proficiency in technique rather than combat success, which does sometimes involve the use of techniques that would never be feasible on the battlefield.
Actual combat practice is done in the form of step-sparring, choreographed fight scenes in which there is an attacker and a defender. Step sparing is broken down into ten different catagories in which the defender is always defending against a specific type of attack/defending in a specific manner (examples being the thrusting set dealing with thrusting attacks and the kicking set incorporating kicks into your defenses. Each category has three specific defenses that need to be mastered and remembered as part of the core curriculum along with Forms and choreographed Kendo drills. In addition, Black Belts are required to also invent their own unique creative techniques to go along with their respective categories. For my 2nd Dan test, I will be demonstrating the regular drills in the high and low set (high being the one done this testing session, low being the one done last) in addition to 21 creative techniques.
Sparring is done with the Actionflex series swords (the video on page one is a good example of high level combat) in which there may only be one point scored per engagement (this is primarily to discourage people wading in and using the sword like a baseball bat, you need to be skillful to get your hit and get out without your opponent getting you back). Only the upper body and head are targets. Hands and arms are worth no points while strikes to the head and back result in penalties.
Our school also offers
Quickdraw Sparring in which the whole body is a target. Quickdraw operates in a round robin system wherein each combatant only gets one cut, and must make that cut within half a second of drawing their blade. Because of the use of PVC pipes tied together in a way that they vibrate on impact, Quickdraw is the most physical sport we offer, with people under the age of 18 needing express permission in the form of a contract from their parents to compete. In my time watching, I've seen lots of hard hits, most notably someone who dived drawing a cross cut and almost got inverted stabbed in the small of his neck (the only place he wasn't padded), but I have never seen any lasting damage result.
I'll most likely be busy prepping for finals and my Second Dan test, but I should be able to answer any questions after that.