That, of course, does not save you from other problems with Flash and the way developers have (ab)used it. Crappy/useless widgets on screen that serve only to eat your CPU and batteries, including banner ads and the like.
You can search for "Click to play" in the settings and disable plugins until you click on them. This helps a little security-wise, too, in case an attacker is resourceful enough to have both a 0-day for Flash and the Chrome sandbox. Not sure how likely that is, but it's also trivial to white-list sites you trust not to send you exploits from the icon in the URL box.
