In a time of high uncertainty for the entire Flash product line, Scott Castle Product Manager for Flash tooling at Adobe has answered the above question on popular Q&A site Quora. The quick answer is NO, for the entire answer follow the link below: http://qr.ae/RLNi6 Interesting read in interesting times.
We’ve got a lot of emails on these topics recently so we decided to clarify the issue here. Adobe announced support for h.264 video in Flash Player in August 2007 in this press release. Adobe announced Flash Media Server 3 and Flash Media Encoder 2 in September 2007 in this press release. Prerecorded h.264 video Right now the latest Flash Player Beta Update available on Adobe Labs only supports playing/decoding of prerecorded video files encoded with h.264 and delivered using progressive download. To deliver prerecorded h.264 video files to Flash Player applications (video players, etc…) using streaming we need to wait for Flash Media Server 3 due to be released in Spring 2008. Flash Media Server 2 can only stream[…]