Hell is still quite warm, thanks. H.264 encoding/decoding is still encumbered, the ON2 codecs can’t be OSS’d, Adobe still controls the distribution channel for “official” Flash, and it’s not clear to what extent this announcement will allow Adobe’s “partners” in this (let alone ye-old hacker) to help define the direction of the product. Opening up specs in no way changes how they’re created, who has a seat at the table, and how they’re evolved. If Adobe still holds all those cards, well…they still hold all the cards ;-)

I’d argue that a “wait and see” approach is firmly warranted until Adobe *also* throws more of the flags that would indicate a real willingness to work as a peer with this nascent community and not as the single source of truth.

Regards