Every review of Android's ability to render Flash included the phrase, "it crashes, but you can run it!" I know my PCs tend to bog way down when I load a Flash heavy page.
Never had a problem with Flash crashing my phone. Looks like Adobe has realized that HTML5 will be the way to go.
Flash is a dinosaur from 1995. Even Youtube, which was founded as a flash video site, is moving away from it towards HTML 5. (The videos themselves are encoded as mp4 or webm depending on resolution, superceding flv)
Flash was never really suitable for the mobile market, it's not really great for multi-touch. It won't be the death of Flash though, it's still thoroughly useful with the likes of Flex for pushing data out, and on the desktop you're more certain of having Flash than you are of HTML5 support. Until MS does something about IE updates, in the same vein Chrome and FF have, that's going to be the case for a long time to come.
Good news, everyone! RIM has announced that they intend to keep supporting Flash, no matter what Adobe does! If that doesn't indicate there's huge problems at that company, nothing does.
