It's Audio that is the killer oversight. Just like Video, Audio can only be played on iOS Safari as the result of a user click. They don't have to click the play button specifically, but they have to click something.
That means you simply can't write a video game that has sound. Every clip needs to be "prepared" with a user action that you convert behind the scenes to a .load() so that it can .play() when you want it to. And if you "prepare" a different clip, you can no longer play the first one, except as the result of a new user interaction.
Add to that the bonus that you can only play one clip at a time. And that iOS tosses them out of memory every time you load a new one, and suddenly your rich, interactive presentation, game, or whatever is reduced to a boggy buffering-screen-having mess.
I wish we could hope for them to fix it in future versions, but the opposite is the case in practice. Up until iOS 4.2.1, there was a nice workaround that got your audio/video clips playing in some cases. iOS 4.2.1 specifically addressed that loophole.