http://forums.digitalpoint.com/showthread.php?t=304704 http://forums.digitalpoint.com/showthread.php?t=212137 http://forums.digitalpoint.com/showthread.php?t=116705 you can check those threads. every of them are related to your questions
The best resources is from Google themselves: http://googlewebmastercentral.blogspot.com/2007/07/best-uses-of-flash.html
In some cases a HTML summarised version of a flash site is required. As there is only so much you can do to optimise a 100% flash site. Flash Site: Meta Tags, Meta description, Title Tag, and anything else you can fit in.
There are a number of ways to optimize a flash loaded website and to make it a search engine friendly one for which a proper tutorial should be referred as it would be the way to go with.
I use the swfobject method and I have Flash sites that are #1 for quite a few keywords. While the keywords are not very competitive this is without any SEO work and they are ahead of non-flash sites. I just put the sites up and they get indexed and keep moving up in rank. this explains it - http://blog.deconcept.com/swfobject/ I copy all the content and make an HTML page for each "page" of the flash site and have a menu with links on all the pages. I've used this for quite a few sites and none of them have been penalized for "cloaking".
It is better not to make the whole site flash and some html parts containing the articles are a better way.I personally don't like flash sites ofcourse there are some state of the art ones but most of them are crowded with nonsense animation etc