A new app called Frash which can run on jailbroken iPhone, iPod Touch and iPad does better than the earlier apps and allows users to access and view Flash content on their iDevices. The Frash app is available for downloads as a .deb file and can be installed on a Jailbroken iPad through Cydia.
According to Engadget, you cannot view video playback using the app currently, however, they were able to play games and view other simple Flash content. Though the missing video playback might be an issue, it is definitely promising that iPad users can at-least play games right now.
Hopefully the developer Comex will come up with an update for the app which will also allow users to view Flash videos. Excited to install the Frash app on the iPad and play games? Visit this Engadget post which has full instructions. You can also watch a video of the Frash app in action below on an iPad.