I got an email from Thomas Joos tonight saying he had something I might be interested in, and you're not wrong there! Using the b.Tween framework (currently in beta) which in turn uses barefootsoft’s EyeGT technology they were able to port mobile content, in this case a Flash Lite app to the iPhone.
While that does not mean a Flash Player on the iPhone (yet, I told Steve I wouldn't buy one until they do support it) at least it opens things up for Flash Lite developers to move into the iPhone market and start deploying apps.
Now the bigger question, can I get that to run on my iPod Touch? ;)
You can read more about it here: http://www.thomasjoos.be/2008/06/30/porting-flash-lite-to-the-iphone-rock-werchter-mobile/