Here's why there's no Flash on the iPhone/iPad (and why there shouldn't be Flash on Android):
This video says it all:
Install Flash Player 10.1 beta on a Nexus One handset and it becomes slower at loading web pages than the iPhone or the HTC HD2.
It gets worse, because not only does the browser become sluggish, the OS crashes with a memory error.
Now, this Flash Player is a beta, but given the negative publicity that Adobe has received (along with fierce criticism from Apple), I'd have expected Adobe to push a solid beta for the 10.1 beta.
This video shows how snappy the handset is without Flash running:
Flash is bad news on every platform. The only reason we put up with it is because it's managed to pervade the web so deeply. Ultimately, Apple is doing the right thing. Five years ago, all out devices will be more stable thanks to this pressure being put on Adobe.