This is good news for everyone who has to visit "designer" sites where all the content sits in a Flash object with stupid piddly custom scrollbars (mouse over the arrow to scroll... slooooowly... doooowwn...) and absolutely no text/html alternative.
At least this way we can know in advance that the text we're looking for is actually in there before loading the buggers. (And if the search engine allows you to preview enough of it, you might not need to load the .SWF at all...)
I don't understand Mr Wittman's comment... why would anyone want to search *for* ads - and surely the ads on Google will remain text-based (which is nothing to do with searching *for* ads anyway, since the sidebar ads use keywords rather than the ad text itself...)
But for the simple fact that yet another non-text-based format can now be indexed, this is a step forward and I applaud Adobe for taking it.