Adobe released flash player v.11.2 for Linux a few days ago. The repositories of Ubuntu have started seeding the update for both 32bit and 64bit systems from today. Arguably, 11.2 is the best release of flash player from Adobe till date. This release is supposed to bring multi-threaded video decoding support. UPDATE : Here is the release notes.
Sadly this the last release that Adobe will provide for flash on Linux. A few weeks back Adobe released a statement that they are killing support for flash on Linux. There will be no further new releases however, there will be bug-fixes from Adobe. We know how frequently they are expected to come! After the release of 11.2 , only Google Chrome will support new versions of flash on Linux.
Below is a screenshot of a HD video playing from youtube. You can see that the CPU usage is very less compared to previous versions of flash players. Hopefully, the multi-threaded video decoding support is properly implemented before the support is withdrawn!