Well, it seems that the upcoming flashplayer 10.1 (first half of 2010?) has been completely designed to fill the gap that the current flashplayer has with the smartphones world (multitouch, accelerometer, screen orientation, sleep mode, out-of-memory management, etc..).
There will be a lot of new useful features, if you look at the release note pdf: http://labs.adobe.com/technologies/flashplayer10/releasenotes.pdf
But the most important feature, for me (as I asked a little time ago), is indeed the global error handling!
Unfortunately the global error handling feature hasn’t been already implemented in the current prerelease public version. I hope they will enable this feature soon, I really miss this option!