If you are not contented that your iPhone 4 cannot Flash content, this software, Frash, may help you. But in order to start, you will need to Jailbreak your iPhone.
To do this, Redmondpie has written instructions for you to do it.
Click Here to Redmondpie’s Instruction to install Frash
To see how Frash works, watch the below video. I think it is good idea to allow the user to activate the flash content. In this case, it will not slow down the loading process (IMHO).
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