Gruber's second post on flash in two days...
I give you this:
http://www.screenplaysmag.com/tabid/160/articleType/ArticleView/articleId/835/Default.aspx
Adobe is very aware that they need to bring Flash to mobile. For both video and for mobile applications. Those saying that Flash isn't ready for mobile yet, be assured it's going to happen. If performance is an issue, the iPhone has a 620mhz ARM processor (including a floating point unit). I think that's pretty darn fast for something that's sitting in your pocket on your train/bus ride home.
In a simple view of mine, AIR represents a runtime environment for running Flash applications outside of the browser. Like using the Java Runtime Environment to run Java applications. This doesn't mean that your existing browser based Flash app is going to run on the iPhone, but for developers it means they can quickly create applications for the iPhone by being able to reuse existing code.
The human interface of the iPhone has different limitations and capabilities than our desktops do. That being said, I feel that if flash would become the iPhone SDK that it would be with a slimmed down subset of the UI framework. The framework will be slimmed down regardless if it's Cocoa & Obj-C, Flash, or Java. Similar to what danger had done with their Java SDK for the hip tops/sidekicks.
That said, developers can still utilize their business logic that is agnostic agnostic to any UI framework. This would allow to quicker time to market for those wanting to create their application on different platforms. Another not on efficiency, compiled applications can also possibly be optimized for the platform they are being compiled for. Look at how the Java Native compilers are used for Java desktop apps.
I for one would like to see Cocoa & Obj-C, however my feeling is that it's going to be Flash.
Still speculating acquisition too, but don't get me wrong... it's not like I'm going out and piling up on ADBE.
t.