Welcome to the forum! We get a lot of questions about Flash and unfortunately as you've found, the answer is always that Flash content does not work on the iPad.
That said, there are a couple of apps that will allow you to play Flash content, the most popular is called Skyfire:
Skyfire Web Browser for iPad for iPad on the iTunes App Store
Results with respect to playing Flash content on the iPad from this app and the others are mixed to poor.
There is a YouTube App on your iPad that will allow you to watch a majority of videos on their site (they employ a different method to show videos which is becoming more and more prevalent).
Another website/app that plays videos on the iPad is called Vimeo (the iPad App is free):
App Store - Vimeo
There are no apps being sold in the iTunes store that employ or require Flash, so I'm not sure what you're running into in that respect.
"
Wallaby" is an Adobe developer/designer program that allows graphic and web designers to convert Flash files to HTML...which again is the future for video as it's accessible by all devices. The program is not something meant to be used by anyone other than professional designers.
Hope that helps!
Here is some more information that will help you get the most out of our website and your iPad:
Forum Rules - Please read
Hacking Rules - Please read
iPad for Beginners
Free iPad User Manuals
Download The Official iPad Forum App
Also, using the search feature will often turn up threads that will answer your questions, but if not, feel free to post in the appropriate area.
Welcome again and enjoy!
P.S. Since there are already a number of threads discussing Flash we'll go ahead and close this one.