Flash support h.264 is BIG news. Many of my colleagues said this would never happen. They said that Flash support for h.264 would open their player (.swf) to competition that would threaten Flash's rich media dominance on the web.

However, video is a critical communications format that cannot be dominated by priority codecs which are controlled by one company. This announcement, in my opinion, is the start of the end of video data format/codec wars.