Terribly biased article... Might as well add my own uninformed opinions :)

it's no surprise to me that the release is slipping. Adobe has never been 'agile' with flash player. All accounts say it's a pretty rough code base.

I've been doing flash and air programming for the past few years and the runtime is buggy and quirky and hasn't seen many improvements aside from framework type stuff in Flex/Air.

The Mac and Linux versions are even more buggy.

I bet it kinda works on the mobile platforms but the performance and compatibility is shit. This is going to be a big hole to dig out of, even if apple isn't trying to bury it.