Not to diminish this great project, at this time its practically only useful for very simple banners or animations without any sound or user interaction. It is also - understandably so - heavy on the CPU. Now you get the kicker with uninformed comments like this:
"While the open source Gordon is available to all, it still doesn't solve one of Flash's biggest problems. These SWF files still hog the CPU. One demo, a simple vector graphic of a tiger, throws my desktop browser up to around 100% CPU usage"
Then you get people saying projects like this highlight how the Flash Player has become obsolete and its proprietary format is harming the "open web". Somebody hasn't been paying attention since 1998. The SWF format is open and freely available (as are many other formats and protocols used in the Flash Player), that is in fact what makes projects like Gordon possible without resorting to reverse engineering.
There is literally nothing stopping anyone from developing an open source Flash Player, Adobe's implementation isn't fully open source mostly due to some technologies it licenses and can't release (video codecs and text rendering). Saying the Flash Player is a black box or its future is in jeopardy because of its proprietary format is just factually wrong.
I do hope to see more people take up the challenge and start developing code that plays back SWF content, we can only benefit from that.