Why would you want that? That’s crazy. Flash should be used as a last ressort. Video. Games. That sort of stuff. Use friggin’ html for the rest and do not confuse your users.
Using this site as an example of "professionalism" is just wrong.
Using generic flash frameworks and components definitely increase the file size as they usually come with a lot of functionality (thus code) and legacy code that you might never really use.So if time allows,building your own components is highly recommended to keep file sizes low.
It is possible to build real fast sites with Flash. As an example, if a page contains 20 small thumbnail images (means 20 separate http calls in an html environment), it is possible to load a single zip file with all 20 thumbs into flash and unzip and render it at runtime.Thus reducing the number of http calls from 20 to 1.
As lowdown commented above, the performance of a Flash app depends on how the developer approaches the problem.
As many other commenters pointed out, a 100% Flash based environment is definitely not a great choice for a social network site like Kontain. But the site's neat design and rendering is a great example to show that Flash sites neednt always be cheesy or flashy or flexy.
I'm running flash player 10 on Ubuntu BTW. You can get it here http://get.adobe.com/flashplayer/
(2)'Cheesyness' depends a lot on how you implement fonts and how how much of a professional designer you are. Its is a function of your imagination and professionalism. See kontain.com
(3) Just like any other language, workflow tediousness depends on the kind of IDE you use. If you are of the developer kind and tries to use Flash IDE's timeline based designer workflow, it will be a disastrous experience.
Having said that , i wish Adobe open-sourced the Player.