It's official: No Flash support on the iPhone (yet)
Our sources at WWDC are reporting that, for now, there is officially no Flash support on the iPhone. Apparently, in the State of the Media address yesterday, the announcement was made that: "There will be no Flash support at the moment on the iPhone." Developers are being told not to serve video via Flash, as there simply isn't a player built for the phone yet.
On the upside, the word 'yet' is apparently being used liberally, so things might look better for Flash on the iPhone sometime down the road.