I was reading a post on Google WebmasterCentral which talks about Best uses of flash
sIFR is a cool way rendering text using flash and javascript. If javascript is not supported by the browser then it beatifully degrades as plain html text
Mike Davidson,founder and CEO of Newsvine.com is co-inventor of Scalable Inman Flash Replacement (sIFR)
Since sIFR is similar to cloaking , Search engines such as google might penalize your website for cloaking.
But in Best uses of flash Google openly recommends usage of sIFR.
