Maybe, but it wouldn't be that good; Apart from ads (which we DON'T want) most Flash people see is either Youtube or games. Games are mostly designed for mouse+keyboard, and Youtube is slowly but surely coming to the iPhone...
Adding flash support to the iPhone / iPod Touch will definitely open another dimension of content and services people will create for the devices. Maybe they're saving the steam for the holidays ? SDK release as well? it's coming for sure though.