Since Adobe made the ill-advised "sure, we can do it" boast as soon as the SDK was announced, there have been no other publicized developments. The SDK/App Store terms specifically forbid development of something like a Flash player (or any other interpreted/compiled language/code) so Flash won't arrive to the iPhone in that way.
I'd describe Apple's interest in getting Flash on iPhone as indistinguishable from zero. Sorry, but I'd basically not hold my breath at all.
Have fun on the desktop! 🙂