At JavaOne, Sun's James Gosling talked with CNET News.com's Stephen Shankland about the new application platform, JavaFX. Gosling talks a bit about how JavaFX will compare to Adobe's Flash and Microsoft's Silverlight.
See News.com for more on JavaFX
If you're a Web user wondering what to do about this three-way race, here's my advice: don't worry about it, but do prepare to be impressed. The competition among these three powerhouses is going to make for fantastic new apps, as the platform vendors struggle to one-up each other by building their most reliable, leanest, flexible, and fastest platforms for developers. This is about the best thing that can happen for us.