So, finally, we have Flash video on a mobile device. Here's a VidZapper channel running on the Nexus One with Android 2.2:
Unfortunately, everything you heard about Flash and video was true. The 800Kbps file running through the VZPlayer ( a Flash app) runs at a couple of frames per second on a good WiFi connection (whereas it plays fine on the equivalent Android app). The processor simply can't cope with decoding H.264 and Flash at the same time.
Still, it's a step in the right direction.