The latest Adobe Flash Player 11.3 beta features low latency audio support for streaming audio through NetStream. This feature aims to reduce latency for high quality streaming audio playback. It addresses a very special use case of cloud gaming, where the game is rendered at a server and audio and video are streamed to the client. This feature should come in handy for cloud gaming services like Gaikai and others that use the Adobe Flash Player. OnLive on the other hand uses their custom OnLive App that is already optimized for the lowest possible latency.
Another new feature of the Adobe Flash Player 11.3 beta is full screen keyboard input. This feature enables support for all keyboard keys available to an embedded SWF running inside of a page without full screen mode, except for ‘Esc’. It allows developers to determine if the App is in full screen mode, whether full keyboard input is allowed, and whether the App is able to request full screen (determined by the embed tag parameter).
Adobe Flash Player 11.3 should be out of beta soon and I'm sure cloud gaming providers will capitalize on the new low latency NetStream audio feature.