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A usual complaint about Flash (and verily; the reason I have advised many people to avoid extensive use of Flash in the past) is that google and other spiders doesn't index Flash content. Well lo and behold! Google now indexes the content in .swf files!

This is quite a revolutionary step forward for Flash developers (and even more so; for their clients) as missing out on google indexing is key for people finding your site.

Even so I'd still caution people to show discretion on building their site entirely in Flash. There are many pitfalls with Flash based sites, and in the vast majority of cases HTML is still preferable. Especially for content-heavy sites. For portfolios and “ad-sites” Flash may give you the flair you need, but again; Do consider using flash only for that special touch.