What can Flash do that is currently not possible with HTML5?
For example, Flash supports raw access to the core network, and WebSocket supports some proxy server. This is really annoying.
Here is a list of reasons Flash offers HTML5 regarding video http://apiblog.youtube.com/2010/06/flash-and-html5-tag.html
In addition, flash can bring C / C ++ libraries to the Internet using Adobe Alchemy
Work with almost all browsers (except iphone :)
Suppose I should also mention that Flash is currently superior to HTML5, so in this respect it will also limit what HTML5 can achieve at this time - although I am following WebGL to see how well it can be used.
http://www.themaninblue.com/writing/perspective/2010/03/22/
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