This looks like a pretty interesting alternative method to get Flash on the iPhone and iPad. From what I have read it sounds like it’s slower that regular Flash especially when it comes to interactive stuff like games. At this point it’s probably good for ads.
Thanks to Karaminder for pointing me to this.
Lee Brimelow has a great video about creating apps for the iPhone with CS5. This is is just a preliminary video showing a prerelease version of Flash CS5. The process may change in the final release, but it gives a good idea of what is going on and what kind of performance you can expect.
Sounds like it costs $99 per year to become an iPhone developer through Apple. You’ll have to pony up if you are serious about developing iPhone apps.
Here’s a little on someone’s experience creating apps for the iPhone: