Found the following info about Flash Lite 4.1 (from July of last year, interestingly enough):
Quote:
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Of course this comes with a tradeoff that ‘high-end’ features of Flash 10 will not work in FL4. Gradients, filters, effects will not work in FL4. But then when your CPU is not powerful enough, you don’t want these features anyway. If you plan on using Flash Lite 4 as a plug-in, our estimate is that it will still play about 90% or more sites without any difficulties and this includes all the popular sites such as youtube, CNN etc.
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See
http://www.embeddedflash.com/?p=701 for the full post.
This suggests that Flash Lite 4.1 will probably fit our needs pretty close to what we would expect of the full Flash 10.1. At least it seems Flash plugins on websites will be visible.