From the Adobe Newsflash:
The Adobe® Flash® Platform has received several big updates. Adobe recently launched a public beta of Flash Player 10.1 for Android™ at Google I/O, the first full version of the Flash Player designed specifically for mobile devices. In addition, Adobe Creative Suite® 5 software has now started shipping, with Adobe Flash Builder™ 4 and Adobe Flash Catalyst™ now part of Adobe Creative Suite 5 Web Premium.
This means full flash support on the Android 2.2 platform.
Some research reveals not only will the mobile Flash player support flash, but it will also tap into accelerometers, and handle gestures. Adobe has implemented many performance enhancements to make sure the mobile platform isn’t as “gimp” as Apple would like to lead us to believe.