Here's my 2 cents....
Flash is cool for mainstream sites and I'm sure it is great for a business (whatever your boss does).
There are also more and more pay sites using flash (ARS's Extreme Sexxx had flash for a while) BUT, for your basic free porn site it just isn't a smart move. You are trying to get the max amount of people to visit your site and click your links and if they have to wait they're gone.....
About 2 months ago I heard a figure on Tech TV .... approx. 3% of people on the internet have a high speed connection. The other 97% is rolling along at 56k or worse
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Make $$$ the Diabolical Way