A fellow Twitter, Marius Jørgensrud, stated that Flash will die out as a format if the iPhone get support for Silverlight (all translation errors are on me).
My first reaction where that as long as the i-units (iPhone, iPod) are bringing in a lot of cash Apple would never deviate from the formula of creating i-units that just works. It is well known fact that Apple currently does not want to allow 3rd party applications to execute arbitrary code on their units. This is in fact the main reason why Flash and Java is not yet available on the units. Seen from a support (and business) point of view this makes perfectly sense: Do not allow anything that can degrade the end users positive experience with the units. I believe that this is also the reason why Apple does not allow 3rd party applications to multitask.