RonPK - 8:49 am on Jul 24, 2007 (gmt 0)
It would be a bit foolish if search engines would not allow serving accessible alternatives for Flash content. Here is the relevant W3C guideline:
Guideline 11. Use W3C technologies and guidelines.
Checkpoint 11.4 If, after best efforts, you cannot create an accessible page, provide a link to an alternative page that uses W3C technologies, is accessible, has equivalent information (or functionality), and is updated as often as the inaccessible (original) page. [Priority 1]