On of the biggest topics for HTML 5 is that it will replace Flash. While there is definitely a possibility of this, at this point this is not the case, nor is it forecasted in any way. Don’t listen to everything Steve Jobs tells you. This is important because Flash is not as easily identifiable to Google when indexed. Sometimes Flash may not be indexed at all. However, Google can index Flash, which is a common misconception. It even shows you how to have your Flash indexed on Google’s developers page. The thing about HTML 5 is, that indexing for your site will become a lot easier, rendering SEO more effective. At this point, HTML 5 should not replace Flash. In fact they should be used together.