Anyone who has an iPhone knows that trying to watch Flash videos is just not possible. There are a few hacks and cracks that bring synthetic Flash knockoffs to your device, though the jury is still out on how well they actually work. That could be changing real soon.

Skyfire has submitted an application to the App Store that would perform a nifty little conversion and bring real Flash to your iPhone. We know that natively, the software would never get a chance to grace the presence of Apple territory, so the developers created a way to make the content compliant…

The way it works is when you click on a video that is Flash based, the app takes it from its original format and converts it to HTML 5. Such a simple sounding but brilliant idea by whoever is behind the development. HTML 5 of course is the format that Apple has regarded to be the future that eliminates Adobe‘s software.

The video shows off the seemingly stable app in action by loading an episode of The Daily Show. I can see Apple approving this and revering it to be the sort of example they speak of when they claim HTML 5 is the future. If only the app could make Jon Stewart consistently funny.

Will Apple approve this application or deem it too controversial? I wonder if the guy who decides will have to make a call to Steve himself. Let us know what you think of the app’s presentation and concept in the comments below.