As we recently announced, we’re working with Google to integrate Flash Player into Google Chrome so that when users install or update the browser, they will also receive the latest version of Adobe Flash Player, with no need to do a separate install.
Chrome 5.0 and Flash Player 10.1 have been in beta testing together for the last several weeks. Now as we are preparing our final releases, Google is locking down Chrome 5.0 first, without the beta version of Flash Player 10.1 built-in (since the plug-in will still be in beta when Chrome 5.0 ships). Once we finalize Flash Player 10.1, it will be reintegrated into Chrome shortly.
In the meantime, if you download the latest build of Chrome, the integrated Flash Player will not be enabled by default (though it is still available behind the “-enable-internal-flash” command line flag). However, if you have a version of Flash Player on your system for other plugin-based browsers, Chrome will automatically use the shared version of Flash Player.