Like Google, Adobe is also over-joyed at Apple's newly changed and clarified developer license agreement, specifically the part that now allows cross-compilers like Flash CS5 Packager for iPhone:
Apple’s announcement today that it has lifted restrictions on its third-party developer guidelines has direct implications for Adobe’s Packager for iPhone, a feature in the Flash Professional CS5 authoring tool. This feature was created to enable Flash developers to quickly and easily deliver applications for iOS devices. The feature is available for developers to use today in Flash Professional CS5, and we will now resume development work on this feature for future releases.
It's not all rosy in Adobe land, however, as they point out Apple still won't let the still not really functional Flash player for mobile onto iOS:
Adobe will continue to work to bring full web browsing with Flash Player 10.1 as well as standalone applications on AIR to a broad range of devices, working with key industry partners including Google, HTC, Microsoft, Motorola, Nokia, Palm/HP, RIM, Samsung and others.
I've used Flash Player mobile 10.1 on my Nexus One. It works worse than Flash for Mac which has been around for years and is still horrible (even with hardware acceleration). Flash for BlackBerry and Flash for Palm still haven't shipped and are so late they could verge on vaporware at this point. Despite Adobe talking about Flash for iOS (then iPhone OS) since 2008, it simply doesn't exit.
So yes, yay, Flash games and apps can now be ported to iOS. Whoosh, another 2000+. But let's get Flash player working really well on just one mobile platform before we whine about it on iOS again, shall we?