Today’s rumor is that a beta of the SDK will be released next week. I’d bet as soon as that comes out there will a stand alone flash player. No idea what’s going on with Safari integration though. Flash support in Safari would slow down the already slow EDGE network… plus increase the load on the device itself which I’d imagine is what they’re currently trying to resolve.
Edit:
I’m pretty sure that’s not possible. For a while people thought the Touch had a bluetooth chip and that it was simply disabled but I think it was finally proven that there wasn’t one. But even if what you are describing was possible I don’t at all see a point in doing it.