Your only limit and boundry is your imagination, i can say that for Flash, truly an awesome software, yes there are few limitations because its a vector based program,
Penguin Flash have a programming language of its own refered as Action Scripting, works some what like C coding not very hard to catch on
Most you will find yourself loading/unloading movie clips on certain actions (can be keyboard,mouse or generated by update of some declared variable) and other kewl stuff
I haven't tried making a game, but yes i did made a CDROM based Information Kiosk in it, now people may say that director is the software to use for creating cdrom based applications but please don't laugh no matter how hard i try i can't understand director, flash was very easy for me to pick and learn (plus its damn addictive)
Matthew i think if you are investing your time in learning some software in the long learn it would be a worth while investment