Adobe is finally bringing decent Flash video support to iOS, only it will have to do an on the fly transcoding to do so. The latest release of Flash Media Server, version 4.5, implements new features that will allow same source video delivery thanks to “on demand repackaging” to both Flash and iOS via HTTP Dynamic or Live Streaming.

“Now publishers can simplify their video publishing and protection workflows with Adobe Flash Media Server 4.5 with protected HLS support, audio channel extraction, DVR/PVR live, on demand and variant playlists. One set of content without any preparation or additional storage and deliver safely to both Adobe Flash with HDS and to Apple devices using HLS.”

While this is far from full-fledged Flash support on iPhone and iPad, it’s definitely a step in the right direction. GigaOm also notes it will allow users to bypass the battery drain and buggy experience typically attributed to flash on mobile devices. However, while the stream should work fine in mobile Safari, as TUAW points out, the tech doesn’t permit interactive content such as flash games or animations, making it far from the full flash experience.

Adobe also recently unveiled a number of other tools and support for iOS, including their Lightroom and Carousel apps and support for Newsstand in iOS 5.

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