Here's the problem with Flash to .ipa, as I see it.
Developing for iPhoneOS, for a developer, is piss easy. A friend of mine fired up the SDK the other day, and within a day had 95% of a working app complete - and this app connects to a well known trouble ticket platform, so there's a lot of stuff in it. He hadn't touched the SDK before this. Hell, in typical Apple fashion:
Yeah it's that easy.
Now, for those who've used iPhoneOS, you know how obvious the difference is between apps that use the native UI tools, and those that don't. Those that don't? Some weirdo has wasted a whole bunch of time coding all that, when the OS
provides it all for you. It's no surprise that the most popular and most usable apps (with the exception of games or more specialised apps) are the ones that most match the base system UI. Users intuitively know how to use them and that breeds instant familiarity.
Now, Flash to .ipa workflow would breed a whole bunch of apps that don't adhere to any of the UI specs, and worse, designed by people that probably don't have that good a grasp of the limitations of the hardware, OS and interface. Lazy design, crapped out in the blink of an eye. I suspect it would be much harder to incorporate newer hardware/OS features into apps designed in Flash. Fuck all that.
Sure, I can see some advantages, but most based on ease of cross platform development. Like I say tho, when iPhoneOS dev is so easy anyway.