Adobe has put out a pre-release version of their Wallaby conversion tool. It turns Flash into HTML5 for viewing on devices like the iPad and iPhone. You can see an example of how this works in the video above.
The exchanges between Apple and Adobe have been highly-publicized over the last year. Adobe was upset over Apple's refusal to include Flash on their devices, and Apple basically told them to get over it and develop better software if they want Apple to open up to them.
After a while, things seemed to cool down. Apple still doesn't allow Flash on their devices, and they have even gone as far as not pre-installing Flash on their computers (Flash can still be installed on a Mac through Adobe's website). Ouch. Oh well, Apple doesn't seem like the kind of company to care what others think of them.
Now developers can literally drag and drop their Flash files into an Adobe Air app that turns it into HTML5. That code can then be tinkered with in any HTML editor. It's a nice addition, especially for developers who were already accustomed to creating content on Flash.
It will be interesting to see how much HTML5 content grows in the future thanks to the inclusion of these conversion tools and the popularity of Apple's mobile devices. From there, will we see less and less Flash content as HTML5 will be compatible with more devices?