Still in the keynote and Mike is talking about “Apollo” which will be some sort of successor of Central (remember to that one ?). It will somehow bring together technologies as Pdf, Flash and HTML.
An Apollo application will be installed from a web browser or via the file system and will be launched like any desktop app. It would integrate with desktop functionality and you can style the app yourself – so an Apollo app could look like a Windows or a Mac app natively. All Mike showed so far reminds me to the ideas of widgets in terms of what you could do and to Java WebStart in terms of the deployment models.
Hope they got it right this time, a working and accepted Apollo would be a major breakthrough for Flash!