This is definitely a game changing announcement that we are making today. The Flash Player will now support the open H.264 video format. We have also added AAC audio support as well. This will be a huge boon for video producers who will be able to leverage existing content and workflows. It will also benefit users with better performing HD quality video playback (as well as full screen playback) using the latest hardware acceleration features added to the player.
If you want to geek out on all of the changes that have been made, check out Tinic Uro’s post on these announcements. One bug fix that was made as part of this update is that the Flash Player will now support any MP3 (and AAC) sampling rate. If you have ever run into the ‘chipmunk’ bug, you know what I am talking about. This has been a bug that I get asked about at just about every public event, which now you won’t have to worry about.