How's this for inventiveness? Instead of letting the lack of flash on the iPhone stop them, an Open Source implementation of Flash in Javascript has been created. Details over at 9 to 5 Mac:

Even if Apple never lets a Flash plugin within 50 yards of an iPhone, you may yet be able to enjoy the richness of those blinking banner ads. Gordon (Get it?  Like Flash Gordon?) is an open source Flash runtime written in pure JavaScript.