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Nerd Talk: Actionscript to Javascript

While I have no doubt that this will actually happen I find this article, Flash 11 should be a switch to JavaScript, pretty intriguing. It would certainly open the playing field up to a lot of established developers and probably be less intimidating to less seasoned newcomers. The author has even gone as far as to start a project, called $flash, that attemps to bridge this gap all his own.

There's also the Gordon project - an open source Flash runtime written entirely in Javascript.