The new Flash Player 10.1 features will include some iPhone-like features such as accelerometer support, multi-touch, gestures and screen orientation, but no announcement yet about iPhone support — only support for just about every other smartphone (including Palm OS — hurrah!)

http://paidcontent.org/article/419-adobe-extends-full-flash-to-just-about-every-phone-but-the-iphone/

More tomorrow after the keynote.
(No, I’m not there unfortunately, but watching the broadcast. So I’ll try to interpret the announcements as they relate to Flash video since I can’t scoop!)