Designing Flash Pages for Googleinfomit.com has an article up about designing pages for google, which talks about the Flash Search Engine SDK. One of the cool things about that I didn’t know was that not only will it index the text on stage in a flash movie, but it will also index the text inside movieclips that are placed on stage with attachMovie().
If all your text is going to be included in the flash move at author time, then that is fine. However if youa re pulling dynamic data into the flash movie, then this is pretty ineffective. For those cases, I usually detect for a search engine bot, and if one is found then I dump the text contents of the database (relevent to the page that google is trying to find, if I have deep links set up on my site), with basic text formatting, rather than serve up the swf file. If it’s a regular browser, it gets the swf file.
RSS feeds available for 
I’m not a fan of detecting Google/search bots and serving different content. They usually frown on this type of thing (as I’m sure you heard about BMW germany getting black listed from Google because they were doing just that).
It’s better to use something like FlashObject to embed your Flash movies, and include the alternate content for that page ‘under’ the flash movie, so the user never sees it, but google will not trigger the javascript so it will index all the alternate content.
Another bonus to this method is that you can style your alternate content, so if the user doesn’t have Flash, they can still access all the info.