I was getting very fed up with having to insert Flash content using hand written script in my posts, so I have taken the image module and used it as a start point for a new flash node.
My home page is running some examples at the moment - all the Flash elements on the front page are being generated via the module.
The module lets you choose a Flash file to upload, set its height, width etc. You can also choose whether you want the Flash content to display in the teaser, the body, or both.
It is also using unobtrusive flash objects to insert the code, so it should degrade nicely for older browsers. It also means your page stays standards compliant.
The module code itself is a little bit (ok, quite a bit!) messy as I basically took a copy of image and hacked it. It has had no optimisation yet and there's a lot of stuff that can probably be removed.
The module requires that you create a new table in your database, to store the Flash parameters for the files.
It might be somewhat inelegant internally, but it seems to be doing the job, and I've found it much easier to upload my vague attempts at Flash by using it. Because it borrows from image it also means that if you delete posts then the corresponding Flash file is deleted, which makes for neat housekeeping.