A great new tutorial is up on Macromedias DevNet  that covers the topic of integrating Flash with Visual Basic. Take a gander here.  There is source code, explanations, etc. There is also a nice Acrobat file (suitable for sending to a management type in your organization) titled: Macromedia Flash and VB: A Potent Combination  which should help you build a case for utilizing these methods for a project.
I can personally attest to the usefulness of combining Microsoft Visual Basic and Macromedia Flash as I have used this technique for several projects over the last year and half or so, including ATM’s, Kiosks, custom RIA’s and a handful of other projects.
I have been using Visual Studio 6.0 Enterprise Service Pack 5 (also recommended in the article on DevNet) for my projects. I am in the middle of migrating over to using .NET. I had heard a while back that folks were having problems embedding the Flash OCX file in .NET projects. I think this has since been corrected by revisions to the Flash Player although I am not 100 percent certain on that since I haven’t had time to test. I would love to hear feedback from folks on their experiences integrating Flash with .NET and any caveats, etc.