[...] Next thing we need is to see Flash running on Android running on iPhone -wonderwhy
What you need to do is to boot your iPhone to Android OS and you will have flash 10.1 support soon enough.
Update: Only two years in the future, Android 4.1 was released and Adobe discontinued Flash support for Android. It takes only two years for a big company to revert their promises.
Update: In 2014 we put AIR on iPad 2!