It was announced today by a number of news sources that Google and Yahoo (where's MSN?!) have been working with Adobe to get SWF (Flash) files indexed by their respective search engines.
Any text included in these SWF files will be indexed by Google from today apparently, and by Yahoo at some point in the future.
One of my main problems with the use of Flash extensively on websites has been that it cannot be indexed by Google and so is of no benefit to SEO. And if noone is visiting your site then what's the point of having some funky flash graphic on it anyway?
However from a creative point of view i think Flash can look fantastic and do so much more than HTML. If it can now also be successfully indexed then i take it all back bring forth the era of flash websites...
Useful link: Google blog post on improved flash indexing