So about a month ago Federico blogged a Youtube link again. That made me wonder about Free Flash decoders and I had a look around. In the end I started hacking on David's Swfdec, since it has all the goodies: Cairo for beautiful Graphics, GStreamer for sound, David's excellent code (the SWF parsing code is awesome) and of course it was written in Gnome C.
Long story short: I haven't had this much fun in hacking for ages. I think I haven't done much else in the past month but hacked on Swfdec and watched lots of stupid Flash movies lots of times.
PS: Before someone asks: Gnash is low quality, written in C++ with Boost, requires Copyright assignment, svn doesn't even compile and it does less than my current Swfdec, so I didn't hack on it.