According to web usability consultant Jakob Nielsen, Flash websites are 99% Bad mmmkay. Two of the reasons he gives (in his now 7 year old report) for this claim are that:
BLITZ has already addressed the first issue in our Flash Framework. The Framework implements an elegant and user-friendly solution that not only fixes the browser back button navigation issue, but also adds additional accessibility and usability functionality by adding support for:
With all of those problems solved, I decided to tackle the problem of how to optimize a Flash website for search engines. Since we are dealing with high end websites with large marketing budgets behind them, the end result had to be white hat compliant SEO. We couldn’t afford to get our clients websites blacklisted by the search engines. With search accounting for upwards of 40% of a websites total traffic volume (depending on the type of site) we needed to come up with a solution to offer to our clients that would give them more bang for their buck. The end result of our Flash SEO efforts looks a little something like this:

This application looks pretty simple on the surface, but the real power behind the tool lies underneath the covers.
Read full article here.
Brgds,
CP
June 12th, 2007 at 6:07 pm
Some of the links are broken.. need to add the full path to the source article.
June 13th, 2007 at 3:26 pm
Tnx. Problem solved. All links are now correct.
Brgds,
CP
June 14th, 2007 at 12:26 pm
Quite an interesting solution…
January 5th, 2008 at 5:20 am
It might be somewhat a solution but for the search engines it’s better to explain in text than to do anything with flash. Flash is bad for sites no matter how you slice it.
August 25th, 2008 at 12:17 am
Jakob Nielsen is well wrong. Flashbit released Flash SEO package for backbone CMS last Thursday.
See the Press Release (PDF)