Just made the mainstream news:
Web Site Shows Apparent Beheading Tape
Islamic Web Site Carries Tape Appearing to Show Militants Beheading Purported CIA Agent
http://abcnews.go.com/wire/World/ap20040811_1169.html
I watched this video, and not to be graphic, there was minimal blood after the head was severed. And the victim didn't seem to flinch at all. Either this was a corpse to begin with or a total hoax.