Flash 10.1 is supposed to be released for most platforms in the middle of the year- late spring or early summer.

My guess is it will be released for devices like the N900 and Droid first, since they have the hardware to provide a "full" Flash experience. A wider release would come later.

I can almost guarantee that people with 7201 chipsets or lower and especially those with unrooted devices stuck with a 384mhz clock will be disappointed. Most Flash function except full screen standard video and simple Flash content will probably not work very well.