Can HTML5 animation compete with Flash Animation?

Yes. And No. Above is a walk cyle in HTML5, made using Adobe Edge. Whatever you may think of the illustration style, the animation is pretty good - smooth and natural. As good as the Flash animation on the next page. But there are drawbacks (of course).

Advantages of HTML5

  1. Plays on desktop, iPad, Mac, PC, Linus, mobile devices etc etc...
    This animation runs at a VERY respectale 30 fps on the iPad2

Disadvantages of HTML5

  1. Slower development cycle (about twice as long)
  2. Heavier filesize
  3. Not scaleable

Adobe Edge is good because

  1. It lets non-programmers make great animations
    This walk cycle was made by an experienced Flash animator who does not write a line of code.
  2. Adds a preloader which avoids loading in 'bits'

Adobe Edge is not-so-good because

  1. It is a little bit clunky
  2. Filesise is quite heavy