Flash still has it’s strengths though. I really think that if you want to create and experience, you still need to use Flash. Firefox 4 shows some of the potential of what we’ll be able to do eventually with just CSS but for now, Flash is still the way to go. Great examples of sites like this are usually made by companies who want a site to showcase a product. Car companies do this a lot with Flash sites that mix in a lot of different media, like video and other interactive elements.
Personally, I think video is going to be the domain of Flash for the next couple of years, for two reasons. 1) Until IE9 becomes the main version of IE on the market a majority of the browsers out there don’t recognize the video tag and 2) Until one of the codecs become dominant, Flash will be the easiest way to get your video online. Plus, until the end of IE6, you’ll always need to have Flash as at least a back up if IE6 users are part of your target audience.