So, with new wallaby-produced code, Flash will be allowed to be used on iDevices. Artwork and Animations are the only thing that can be converted on launch but Adobe is working on ActionScript stuff for updates to it. http://www.itproportal.com/2011/03/08/adobe-bring-flash-ipad-2-iphone-5-wallaby/
HTML 5 isn't flash and to be honest it never will be there are to many people trying to push their own agendas for it, not to mention it actually scores lower than flash in benchmarks. As for wallaby If it's by adobe it will be just the same security risks as flash anyway, adobe as a company are a nightmare I try to keep everything they make away from my pc. I'd say probably 90%+ of all viruses/malware on the internet spread through adobe software whether it's pdf , flash or something else. Apple should just relent on flash and keep it sandboxed even the PSP can use some flash sites, yes it's horrible but it's all we have.
Even Photoshop?! I must admit, it's pretty slow to load, hangs occasionally, crashes occasionally and seems to eat my RAM for no reason whatsoever, but there's still nothing that comes close yet. I can't live without it and believe me, I've tried
No really only PDF and flash they seem to be the largest attack vector on the internet and have been for years. The only other piece of software that's exploited nearly as much is internet explorer and when they are combined together watch out. Photoshop is ok as websites can't use it against you but flash and pdf can be. edit: Funny enough just after posting this I read there is a new flash exploit so that is a good example of what I mean