I'm more excited by the new features of Flash Player 10.1.
For one thing, you might've heard of Stratus. If not, to keep it short it's simply a service that uses the new RTMFP protocol that lets you send data between two clients like a p2p connection.
Before Flash Player 10.0 you could use RTMP to send TCP sockets between a client and a server and in that way communicate with other clients. In Flash Player 10.0 you can use RTMFP to send UDP sockets between two clients directly without the data going through the server (the connection still has to go through a server to generate id keys though). Now, if you wanted to send data to a larger amount of people (Adobe talks in terms of millions) with RTMFP it would of course be too much bandwidth for the users computer to handle, most likely. With Flash Player 10.1 they have build upon this to allow the user to actually send this data to millions of users by using groups. How is this possible? Well, as explained here you're not actually sending all that data to all those millions of users, but instead you send to a small amount of listeners, and they resend that data to a small amount of listeners and so on.
I can't remember where I found this quote but someone from Adobe said something like "It's very much like the BitTorrent technology". So in theory you could create a BitTorrent client with only using Flash and Stratus/FMS. In practice, not so much, because you would have to save the files only to RAM since Flash can't save files directly to the computer. Of course, with a save file dialog you could save the file after it has been fully downloaded but that... is just not very useful and it's of course better to stick with a better platform for something like that.
Besides this there are more cool new features if you read the above link, like being able to get the same kind of sound channels (or whatever it is you can do with sound in Flash nowadays, I don't use those features very much tbh) you can get from MP3 files from the user's microphone. And Flash Player for a lot of mobile phones and recognizing multi-touch and less interesting stuff like that. ;)