Nooo!! Well, in principle this sounds like maybe a nice idea, but, just my personal views:
i> It supports only a subset of features in Flash, so is always going to be considered 'inferior', and for a lot of projects, impractical, etc.
ii> It continues lock-in with adobe's proprietary development tools, giving the illusion that one can use CS3 Flash or whatever and create something that works as Flash and html5, which is not true, due to point i>.
iii> From what I can tell, though this is not backed up by hard numbers, the html 5 generated seems to perform worse than the flash versions. This creates the impression that html 5 is 'slower', which I don't believe is true but has more to do with the conversion / generation process.
It's mostly point ii> that makes me a bit uneasy - I find lock-in to adobe's monstrous development tools a bit scary, and this seems to perpetuate that rather than get away from it .. I may be looking at it from a wrong angle though ..
Anyway - cheers, Sanjay