Today at JavaOne SEMC announced the Capuchin project, a bridge between Flash Lite and Java ME on their feature phones.  Java applications run at native speeds on Sony Ericsson handsets, so don’t be fooled, this implementation is very fast.

This means that by the end of this year you will be able to create Flash content for standalone applications and use a set of new actionscript APIs to access device data. Content will be packaged in the familiar Jar format and signed using the standard mechanism, exactly what you all asked for!

I’m really excited about this project, it seems like the best of both worlds.