There's an interesting write up on the work being done on the Linux port of the Flash Player which not only summarizes the work they're doing on the actual application but also talks about some of the aspects that make it so difficult to get right. If you've had the misfortune of trying to deal with Flash under Linux you're already familiar with this pain and all of the stupid tricks you have to employ, like running the browser under aoss, in order to get sound working with most distributions. There is also the crazy, crazy concept that perhaps 87% of a modern processor paired with gigs of RAM should be more than sufficient to render a piece of animation. I also love that Firefox builds are making something already complex into an utter train wreck. I mean, aim high, developers, aim high.
As out of character as it might seem I really do hope that the developers manage to rein in the cross platform wackiness of Flash especially given the popularity of YouTube and other sites where it's an essential component. Any work is good work.