I tried new Adobe Edge yesterday, wow it is cool and it took only 10 minutes for me to develop the following animation in HTML 5. You can simply do animation, movements, rotation, resizing, font changes etc as you do in Flash layers . You can also write actions in javascript, if reached here, or if click here do this, or do that. It will give your exported html file with all these design in pure HTML5. Please use new Firefox or Safari or Chrome to try this.

You can download Adobe Edge Trail Version here.

Also see what others did with Adobe Edge here:

http://labs.adobe.com/technologies/edge/resources/