G5Unit & NealSpencer, I'm having the same issue. I'm on a G5 iMac (2.0ghz PPC proc, 2gb RAM). I purchased a new 400gb SATA HD and installed it two days ago, proceeded to install OS X 10.4 and gradually restore my files (manually... I'm not using some app to restore files in an automated fashion). I noticed I didn't have the Flash Player installed when I tried viewing a page on cnn.com and encountered a message saying Flash Player 8 was installed but I needed Flash Payer 9.
I've downloaded Flash Player 9 several times now from Adobe's website as well as others (VersionTracker, Mac Update, etc.) Each time I've made sure the binary is either universal or for PPC. All browser instances are closed before installation (Safari isn't running in *any* form when I proceed with the Flash Player 9 installation, confirmed through Activity Monitor). Yet I keep encountering the same error message at cnn.com as well as other sites where the Flash Player is used (digg.com and others).
This is very frustrating. The weather is too nice outside this weekend so I'm not paying too much attention to this at the moment, but it's hard to think of something I could've done differently or something I did wrong.