Flash Player 11's new three-dimensional functionality is dubbed Stage 3D, which Adobe defines as a "new architecture for hardware accelerated graphics rendering that delivers 1000x faster rendering performance over Flash Player 10." The result, as you might expect, will be real-time 3D Flash games. The company demos one example, Zombie Tycoon, in the video below..
In addition to the newfangled 3D functionality, Flash Player 11 will purportedly introduce new features geared toward high-definition video playback. You can look forward to "native 64-bit optimizations, high-quality HD video conferencing, and a powerful, flexible architecture for leveraging native device and platform capabilities," Adobe says.
Source: The Tech Report