A W3C friendly version which seems to work in most browsers...
HTML Code:
<object type="application/x-shockwave-flash" data="myfile.swf" width="460" height="300">
<param name="movie" value="myfile.swf" />
<param name="LOOP" value="false" />
<param name="quality" value="high" />
<img src="noflash.jpg" alt="Flash is not enabled" />
</object>
...the EMBED tag is no longer accepted as valid HTML. There are also versions which use JavaScript to load flash which work fairly well.
Note: Is it a bug that the above code attempted to convert to actual HTML when first entered in code tags.