As pointed out by AndroidGuys, Kevin Lynch, CTO of Adobe, has posted a statement on his blog regarding Steve Jobs' attack on the Adobe brand. In it, he reveals something that was previously only known to be speculation.
"We look forward to delivering Flash Player 10.1 for Android smartphones as a public preview at Google I/O in May, and then a general release in June. From that point on, an ever increasing number and variety of powerful, Flash-enabled devices will be arriving which we hope will provide a great landscape of choice."
According to this statement, Flash will finally make its way to Android based phones (assuming the phone has a capable enough processor) as a beta in the middle of May. In addition, the final version of the plugin will be released in June. Since we've already been told by Google's Andy Rubin that the Froyo version of Android will include Flash, it's safe to say that Froyo will be finalized and made public in June, if not May, in some form or another.
Below is a video from Mashable that shows Flash 10.1 in action on a Nexus One, as well as a comparisson video that shows Flash's superior performance over an HTML5 based solution on a mobile platform.