For the last 2 years I worked at a company that built simulation e-learning software in Director. This stuff was really high-end, amazing stuff. It was object oriented programming in Director at its finest. The company won a contract with microsoft to do it's online training software, but there was one problem. Microsoft doesn't bundle the Shockwave player in internet explorer. They do have the Flash player though. So our company had to try to design the same kind of thing in Flash. And it is impossible.
Flash, while getting better. Cannot handle bitmaps reliably at all, Regpoints are non existant in Flash, Action script pales in comparison to Lingo, and designing a real, working program is WAY better, faster, easier in Director.
I love flash, but saying that it can do all the things director can is ridiculous. People who say that, have only been making webpages or simple games in both programs and not using either (certainly Director's) abilities to their fullest. With director you can automate to your hearts content. We built automation tools using director that would function as extras within the project we were working on which would auto-populate the stage, remove cast members from internal and external casts which were not being used. Tools which told us if any cast members were above 8 bit colour, and if they were mapped across pallets, There is no PhotoCaster (at least to my knowledge) for Flash. You can have external scripts in your casts, and apply those scripts to any cast member/sprite.
We even built a huge tool called the "Autopop" which would take a file created in a database and build our entire movie for us automatically. Which was great when were were making dozens of huge projects which all used the same template. Flash just doesn't allow you to do that.
Director will not get scrapped. Flash is eclipsing Director in Sales because learning flash is relatively simple, and most people who use flash use it for it's animation abilities, not its programming abilities. And most peple building webpages with flash want the animation. It is all about accessibility.