Flash has finally made its way to the iPhone via a Javascript powered Flash runtime called Gordon.
The open source Gordon project is being developed by Tobias Schneider. It allows you to load and view Flash .swf files on the iPhone's Mobile Safari browser.
TUAW reports that this is a very preliminary build, that supports just these SWF tags. Also, to make this work, Flash developers will need to encapsulate the SWF into an HTML wrapper, importing the Gordon JavaScript source and then loading the swf
For those developers that must have Flash running on the iPhone, Gordon may soon become a viable option.