Flash owns rich internet applications, and the Flex framework is where I spend a lot of my time now. But I still do projects for clients in Flash like banner ads (using Greensock’s Tweening Platform), online presentations, and interactive widgets.
Sure enough, the banner works on the iPhone. Although the animation is considerably less smooth on my iPhone 3GS than it is on my 3-year-old MacBook Pro (with a hard reset of the iPhone just to be sure.)
When Flash Player 10.1 is out on other mobile devices it will be interesting to see how it performs with animation like this.