It does seem a little underwhelming, but Flash will be more than enough to make me happy. Not sure I care about the homescreen enhancements though. I've been using home replacement apps for a while now. First Home++, but got sick of the bugs, and lately have been using HelixLauncher (though I still think Home++ was the best feature-wise). I've been using 7 home screens since only a month or so after I first got my droid, so going down to 5 and with less features... meh.
Hopefully, even though I didn't see direct mention of it, we'll get those fabled massive performance enhancements. Better overall performance + Flash will make it well worth updating.