The Wall Street Journal is postulating on a behind the scenes Apple - Adobe skirmish about putting Flash in the iPhone. I think the argument can be summed up with a sentence:
Who will control video on the mobile web?
Need evidence? If Apple was planning on releasing Flash on the iPhone, why would Youtube be converting their library to H.264? Yes, the Quicktime quality is better - but not that much better than Flash on a 480x320 inch screen. What is more important is that every Youtube video put on the web is effectively a interface for a Flash interfaced mobile video platform.
Furthermore, (although likely a red herring) even the lighter versions of Flash tax the processor and by extention the battery life of a device - wh