Here’s a subject that gets a lot of press in the web development world.
Given the popularity of music and movies on the web, developers need to be able to deliver dynamically created and configured players as a matter of course.
Then you have the Eolas v. Microsoft issue, which is why you have to click twice on Flash objects in IE before they work.
Finally, you have to deal with all the various browser plugins that attempt to act on media content before any of their competitors, which makes them get up to all sorts of crazy behaviour.
Having tried both myself, I would have to say that SWFObject is the only way to fly.
Its simple to use, its free, its stable in pretty much every browser and it starts Flash objects with a single click in IE, which is really sweet.
You can see it in action on the homepage of www.downloadmusic.ie.
All of the music buttons in the chart are created with SWFObject, but better still, the music buttons in the BATTLE BOX are dynamically created with AJAX and SWFObject. Creating Flash objects with AJAX is all but impossible without SWFObject.
Use it and spend more time with your kids (and thanks to Geoff).