It wasn't too long ago that Adobe announced a Packager for iPhone feature in Adobe Flash CS5 that would allow Flash projects to be ported as native apps for the iPhone. Well, with the release of the new iPhone Developer Program License Agreement for iPhone OS 4.0, Apple has effectively shut that down.
According to John Gruber of Daring Fireball about the new license agreement:
My reading of this new language is that cross-compilers, such as the Flash-to-iPhone compiler in Adobe’s upcoming Flash Professional CS5 release, are prohibited. This also bans apps compiled using MonoTouch — a tool that compiles C# and .NET apps to the iPhone.