1) Flash is a very good idea if you're planning to make a website for normal computers, but not for mobile devices - with a few exceptions (like PSP and PlayStation 3, which I believe have some Flash support)
2) Almost no mobile phones (or other mobile devices) have full Flash. Many phones have Flash Lite, though, but normal Flash files (for desktop computers) are incompatible with these devices, and also vice versa. The closest thing is Flash 10 for Android, which is - as you said - coming soon.
I believe Flash is a very good thing to use for sites aimed at desktop computers (with about 95% of personal computers having it installed, and soon also Android devices), while something like HTML5 would be generally better for mobile devices. But keep in mind that HTML5 is not fully developed, and none of the major browsers (IE, Firefox, Opera, Safari - for Mac/PC and iPhone OS - and Chrome) has full support for it, while I believe that all except IE has extensive support, and most mobile devices too. But the downside to HTML5 is of course that it is not nearly as function as Flash is (because it is still under development).
But in the end, you would have to decide for yourself; I believe both options are good choices, depending on what you would want it to do.
Just a little side note: even if the iPhone does not have Flash support, Android has a bigger (U.S.) market share (they passed iPhone's market share a few weeks ago) and more customers who will soon support Flash.
2) Almost no mobile phones (or other mobile devices) have full Flash. Many phones have Flash Lite, though, but normal Flash files (for desktop computers) are incompatible with these devices, and also vice versa. The closest thing is Flash 10 for Android, which is - as you said - coming soon.
I believe Flash is a very good thing to use for sites aimed at desktop computers (with about 95% of personal computers having it installed, and soon also Android devices), while something like HTML5 would be generally better for mobile devices. But keep in mind that HTML5 is not fully developed, and none of the major browsers (IE, Firefox, Opera, Safari - for Mac/PC and iPhone OS - and Chrome) has full support for it, while I believe that all except IE has extensive support, and most mobile devices too. But the downside to HTML5 is of course that it is not nearly as function as Flash is (because it is still under development).
But in the end, you would have to decide for yourself; I believe both options are good choices, depending on what you would want it to do.
Just a little side note: even if the iPhone does not have Flash support, Android has a bigger (U.S.) market share (they passed iPhone's market share a few weeks ago) and more customers who will soon support Flash.