Yes! that’s right Flash Player 9 will now supports H.264 for video playback. The latest update to Flash player 9 which will be available on Adobe Labs will include support for H.264 and AAC in the form or .flv, .mp4 and .mov files. This will allow flash to continue to be the de facto standard of video players.
Here are a few other enhancements that were added to the new update:
• Multi-core support; full screen mode with hardware scaling; multi-threaded video decoding
Flash Player Cache
• Cross-domain Flex Framework caching; reduced application size and faster download times
Works better with Ajax
Reaching parity on Linux
• Full screen mode now for Linux Flash Player