A company named RipCode has an interesting solution to Apple’s blocking of Flash on the iPad. Simply transcode Flash video to play right in Safari, much like you can stream various video codecs over your home network.
According to RipCode's press release, the TransAct Transcoder V6, as it's being called, captures the iPad's request for Flash content and converts it into a special format that the device accepts and plays. This is all done without a local client or user intervention.
Of course, two things need to happen for RipCode to be successful: Individual sites needs to adopt the technology (even if it requires no special site recoding), and Apple needs to turn a blind eye to the loophole (lest they seal it shut through a firmware update).
In other words, RipCode could spark a minor revolution, or it could just smoke itself out.