Can Google detect "value" of movies, flash and so on?

Does Google "get" that value of a page can be masively increased by flash, shockwave, java applets and movies?

There are ideas floating about that Google determines by time spent on site if that page contains anything useful.

Is this true?

Or does Google actually ignore all this modern content if it's not massively linked like youtube.

I do not mean flash menu sites, but REAL content, ie explaining a concept in an embedded movie or flash.

What I mean is, ie someone makes films about a subject and has less text ie than all the old HTML pages that Google loves.

Given their obviously mostly text based algorithms, where and how does Google detect if these sites add value?