Flash will always be around regardless of whether the uptake on building with the action script language will be as high as it once was.

But I see a future for the Flash Professional application suite.

In a presentation from Andy Clarke at An Event Apart San Francisco he went through the process of animation with CSS3 using the Mad Men Animation Madmanimation as an example.

The markup required to achieve the tasks seems quite complex, not to say that Action script is any simpler, but Flash Professional does afford users the ability to achieve quite detailed animation effects without ever writing a line of code. This is where I see an opportunity for Adobe to extend their growth in the development of web authoring tools. With the flash platform already producing scalable vector graphics (one of its main plus points for animators) and with SVG compatibility in browsers  being at the top of many web designers wish lists; to this simple soul it would seem a logical step for the tool to be enhanced rather than re-purposed to output files that create rich animation in html and css using svg authoring.