Iphone No-Go for Flash Lite
On the annual stock holders meeting for Apple, Steve Jobs announced that the iPhone will not support Flash or Flash Lite in the SDK.
The reason that Flash is not supported is because it doesn't run as expected. For Flash Lite, the consumer experience would be too poor as Jobs said that most web content is not compatible with Flash Lite.
Read more about Platforms: Flash Lite
Cool it's crap anyway! :)
I'm trying to get my hands on the new iPhone Mac based SDK now.