No it doesn't, AIR 2.5 does not have HTMLLoader which is the embedded WebKit based browser. What AIR 2.5 does have, is StageWebView, which basically allow you to specify a Rect(), in which the native browser is displayed. However, it's totally limited, in that you can not communicate via Actionscript to the web page itself. So it's just a very basic method to display web pages inside AIR.
Yes, it does use any native hardware decoding to playback video, and most devices have a dedicated H264 decoder. However, this only enables acceptable performance of low-resolution video, it's not enough to handle HD. StageVideo is required for that, and as of today StageVideo is not released.
But there is no pre-existing AIR app, so they are not saving any money building it in AIR. The savings would come when they ported to a 2nd or 3rd platform... well there's no way MS is allowing AIR on their console, (this is what Silverlight will now do) so I'm not sure what other platforms would make sense.
There's also no pre-existing HTML5 app is there? I don't see how any company could realistically use HTML5 to deliver DRM video, it's not possible to protect it...
This doesn't make any sense. All applications can update themselves.
Why? FMS is nothign more than a glorified web server. Pretty sure it would not be too hard to hook up an alternative video player. At the end of the days, it's all 1's and 0's. Video is video.
For example, Blackberry Playbook will support StageVideo, which will allow for playback of DivX and other formats totally unsupported by the Flash runtime. However, I'm sure it will also work with FMS streams, so it's obviously perfectly possible to stream video from FMS and playback in a non-flash video player.
No! Simply put, if AIR was coming to PS3, there would be a pre-release. If there was a pre-release I would've been invited. I haven't been... therefore, no AIR on PS3