A video processing system may include a video ingest module for receiving a plurality of georeferenced video feeds each including a sequence of video frames and initial geospatial metadata associated therewith, and each georeferenced video feed having a respective different geospatial accuracy level associated therewith. The system may further include a video processor coupled to the video ingest module and configured to perform image registration among the plurality of georeferenced video feeds, and generate corrected geospatial metadata for at least one of the georeferenced video feeds based upon the initial geospatial metadata, the image registration and the different geospatial accuracy levels.