I heard about Puffin Browser a while ago, but never got round to trying it. Puffin is an iOS browser that supports Flash content by executing it in the cloud. I'd assumed that it might be a little flakey, but I'm happy to say I was wrong.
The video attached (please forgive the dodgy lighting, I was trying to avoid my horrible face appearing in reflections) shows a handful of my experimental Flex applications running painlessly on my iPad.
The full screen Belousov Zhabotinsky in Pixel Bender suffers from some compression artefacts, but considering what's coming down the wire, it ain't half bad. My network node calculator and ParticleLab both run beautifully.
The interaction suffers a little: controls like sliders don't work too well with my podgy fingers and drag and drop is a bit fiddly. But, my Flex work was never designed with iPad in mind.
CloudMosa are currently using FlashPlayer 11.2 on their servers, so sadly there's no support for ActionScript Workers or Stage3D. 11.2 was the last Linux release from Adobe, I really hope this can be worked around because it would be great to run some juicy AGAL on my iPad.