A website done in 100% Flash has value only to a company like Nike, that has only one key word: Nike. Flash can be used to create a lot of wiz bang amazing stuff
www.seohouston.com/intro.htm but for the normal business that wants to create sales the future is Flash embedded on an html page, which will allow for both proper optimization and show.
You will notice that I have embedded the Flash in a way that validates W3C.
http://www.seohouston.com/webdesign/index.htm (P.S. Ken from Mountain Eagle taught me how to do that).