Here's a proof of concept video showing the Nook Touch running Flash 9. It's from the same guy who showed us a video running on the Nook Touch.
The video doesn't show much (it looks like the NT hardware is barely up to the task), but it does stand as a rather odd milestone. The Nook Touch, a $99 ereader, can now do stuff that the $500 iPad cannot. A hacker, working out of his house, has just counted coup on Apple.
Of course, Apple doesn't care, but it's still fun to see a lowly ereader do things that the vaunted iPad cannot. It's an interesting day.