I always update flash right away because of all the exploits and how flash in general behaves horribly.
This update required me to agree to an EULA that was 280 pages in every language you can imagine:
It goes on and on about it being a binding agreement and all.
Special care is taken in section 4 to prohibit use of flash in any set top box or media player.
AFAIK all media online (youtube, hulu) plays with flash.
Why would Adobe ask users of their "free" software to agree to all these terms?
Is Adobe's real goal to get license agreements out of media player manufacturers?
Is there a reliable replacement for Adobe Flash Player, maybe open source?"