Adobe has updated its Flash Player to version 10.3, squashing a bunch of bugs and introducing a brand new control panel. It’s a welcome addition that lets you better manage the many Flash Player settings, including camera, microphone and Local Shared Objects settings. More importantly, one can now set how Flash tracking cookies are being handled and fine-tune other privacy, security and storage settings.

Also important, Flash Player 10.3 now supports auto-update notification for Mac OS X. The new aplet is a native addition to the system-wide control panel on Mac OS X, Windows and Linux, Adobe said. The team wrote in a blog post that Flash Player 10.3 also includes support for Android 3.1 devices.

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Developers will benefit from a bunch of new audio and video features, including acoustic echo cancellation, noise suppression, voice activity detection, and automatic compensation for various microphone input levels and video analytics for websites. If you run Google Chrome, you don’t have to do anything because Google’s browser incorporates Flash Player and will automatically update itself when it detects a new version. For other browsers, use a standalone Flash installer.

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