The new Flash Player 9 Update 3 Beta 2 comes with great enhancements.
Adobe announced a new beta version of the Flash Player 9 ( code named: Moviestar ), which includes H.264 standard video support — the same standard deployed in Blu-Ray and HD-DVD high definition video players — and High Efficiency AAC (HE-AAC) audio support, as well as hardware accelerated, multi-core enhanced full screen video playback. This will be of huge impact on the web video development.
A very detailed post on this announcements has been posted in Tinic Uro’s Site be sure to check it out .

Acording to Emmy Huang Product Manager of the Player, Adobe Labs will release a demo where they will have an updated full screen demo with H.264 and an FAQ.

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The update for FLASH PLAYER 9 is now available in Adobe Labs.

The New Flash Player Supports H.264 Video Format by David Gamez, unless otherwise expressly stated, is licensed under a Creative Commons Attribution-Noncommercial 2.5 Mexico License.