So, Flash...

I think that Flash can really be abused when designing a website.
It has it's place, but it should never be used to replace HTML.

I believe Flash's is best when used to embed games, widgets, or other things within the overall HTML architecture. Like Youtube.

Having said that, I took one semester of a Flash design class in college. I enjoyed it, although it more focused on game design than on page design (thank you art school). This is the final product of that class, based on this thing I had as a kid. A good time killer, if you have a steady mouse hand...