The new beta version of Flash 10 comes with hardware acceleration for 3D. This could prove to be the real advantage point Flash needs over technologies such as Silverlight. As a C# developer and eager games developer, I'd love to see this in Silverlight...
JavaFX was announced this week at JavaOne. I first heard about it about a year ago and have been waiting ever since for what they are working on. It certainly looks like a direct competitor with Flash and Silverlight, but they're also aiming for more...