Of course, it’s still an experimental version, so it won’t convert all Flash content, but it already works well on ads and simple animations, allowing you to reuse Flash content on devices without a Flash player, such as iPhones and iPads. Google has posted a small gallery showing four examples of Flash content converted to HTML5. Swiffy currently supports a subset of SWF 8 and ActionScript 2.0. The converted file is sometimes almost close in size to the original file, so it's nice information. However, don't expect too soon that Swiffy will convert all complex and extensive Flash applications (like games) into working HTML5 code.
Adobe and Google surely knows they have no choice but to gradually replace SWF output with HTML5 (Javascript/Canvas), also because of Apple's policy and advertisement banners (ads = means money). Unfortunately, there is one big problem with HTML5, because ~50% of the world's internet users aren't using HTML5-compatible/modern browsers. In future, if a sufficiently advanced and working tool Swiffy was placed in Google Chrome, this could allow browsing of Flash animation without Adobe plugin.
Some months ago, Adobe has released Wallaby - an experimental tool for transforming the source Flash files (FLA) in HTML5, and on their own version of such a tool, Google is also working on similar project.
