You are surfing along looking for information regarding the upcoming Grammy awards. There are also text links to short WAV format clips of the music. When all is said and done, the pages that offer the best content will be the winners. Now, don't get me wrong, I think that's really cool, but if the flash is all there is to it then I won't be back. That's the point.
Content is king.
It always will be. All the fancy stuff is just support. If you never learn anything past HTML version 3.2, you're up to speed. If your pages are text alone, but offer what people want to read, success. Sure, if you have the time and feel it will be useful to you.