I just tested the Flash 10.1 Beta on my Desire and it appears to work pretty damn well. It only works on HTC phones as they already have Flash Lite embedded in the browser.   This leaked and recompiled version should supersede Lite when installed.

Follow through to Android Central and then XDA at your peril

Update: There’s some debate as to whether this works.  I just did a check on Adobe’s site and it says im running Flash 10.1.  I’ll run more tests.

Update 2: I cannot get this to play BBC iPlayer so I suspect it isn’t working. I think the videos are routing through Flash Lite still