I do have a few tidbits of hope.
No complete solutions, though.
Iceweasel (Debian linux version of Firefox) combined with gnash (linux free flash alternative) plays flash advertisements on my Optimus. It won't play full videos due to the overhead of the terminal interface I'm using.
get-flash-videos on google code, also for Debian linux, captures flash videos just fine on my Optimus, and it attempts to play but the VNC viewer I'm using to access the sd-card Debian installation on my V drops too many frames for the video to be watchable.
The captured videos can be watched on-device with a media player or on a desktop/laptop computer using the Optimus as external storage media.
For example, ancient episodes of Herman's Head came from youtube as .mp4s, playable on-device. I also watched a metacafe video.
Between gnash being semifunctional without even having framebuffer access, and get-flash-videos being able to capture flash flawlessly, it seems shameful that the excuse for no flash on armv6 devices is lack of capability, when it seems more like lack of software support. Deep inside, the V's chipset is very similar to a Snapdragon model from what I've read about the multicore CPU/GPU/FPU/radio.
Someone good with native apps for Android could probably mod and recompile get-flash-videos with the Android NDK and coerce the app to request a SurfaceFlinger based window instead of an X window...
edit: oops, not native code... get-flash-player seems to be written in perl. maybe someone good with perl could use SL4A (
scripting layer 4 android) to implement get-flash-videos on pre-armv7 devices.