Adobe Introduces Flash Player 10

"Adobe® Flash® Player 10, code-named "Astro," introduces new expressive features and visual performance improvements that allow interactive designers and developers to build the richest and most immersive Web experiences. These new capabilities also empower the community to extend Flash Player and to take creativity and interactivity to a new level."

More details http://labs.adobe.com/technologies/flashplayer10/

Watch some cool demos

http://labs.adobe.com/technologies/flashplayer10/demos/#videos