It's been a while since I wrote about Flash Lite. And now that Macromedia has been bought out by Adobe, the Photoshop-maker is proud to announce the release of adobe flash Lite 3:

ADOBE MAX 2007, CHICAGO - October 1, 2007 - Adobe Systems Incorporated (Nasdaq: ADBE) today announced the availability of Adobe® Flash® Lite™ 3 software, which now supports Adobe Flash Player compatible video and enables the delivery of dynamic Web content on mobile devices.

Exciting features include the support for video, which implies support for YouTube. Not to mention the increased prospect of finally seeing high-quality games for smartphones and PDAs.