I see what you mean. Some developes who use Flash only as an animation tool would not benefit very much from the implementation this. But, for those people who are developing entire sites in Flash (where the real power of the product is), this could be a significant step. I saw a Macromedia presentation where the interaction between Flash and Cold Fusion was demonstrated, and I could see the great possibilities of data driven flash content. The only major drawback I could see was the fact that search engines could not recognize such content. If this works well, then I can see a lot of developers moving more heavily into the Flash arena.Granted, there will always be the issue that not everyone has the flash plugin. But, for certain demographics, I'm positive that it would be worth it to develop in flash as long as the content could show up in a search.
I'd still love to hear the tech standpoint on this if anyone has some insight.