An interesting post on Daring Fireball about the speed of Javascript on the iPhone.
It’s always dangerous to generalise from such things but if I run the test on my N800 “Diablo” running Firefox then I get the following results – 0.394, 0.078, 0.353, 0.65, 0.250.
Apart from the string allocation figure the results are about 0.5x those of the iPhone with the latest Webkit.
Unlike the iPhone, the N800 does support Flash but to be honest I tend to turn it off save when accessing particular sites as Flash ads reduce the overall web browsing experience.
If I generalise wildly on such only mildly related benchmarks I would guess that Flash on the iPhone would be completely possible and would support most sites but it would still have to deal with those blasted Flash ads which both slow the browsing experience and which are very irritating indeed on a small screen.