I'm relatively new to Flash development, but have done HTML for a number of years. Seems the Flash/HTML debate might be similar to the .NET/PHP debate. Flash does provide a known "platform," since plugins for all browsers are (ideally) the same, while developing a DHTML site that is truly cross-browser friendly may be nothing short of a nightmare.
Flash sites can be slow, and yours seems to be a little slow. I would see if you could reduce the image size or quality a bit more, perhaps. Here's an example of a "faster" site done in Flash that was truly an "experience" for me when I visited: http://www.robertcharlesphoto.com/
Doing that in DHTML, cross-browser, would be nigh unto impossible. Of course, presenting pics in straight HTML would be a great alternative, but there is no doubt that the entire experience would be much different.
Here's another: http://www.sorenhald.com/
. You've got to admit that the feeling at this site is much different than it would be viewing a static, dreary list of pics.
Flash surely is not the "end all" for photo sites, but if done properly I think it can certainly add a quality not otherwise available. Some like it, some don't. For me it has everything to do with the execution, and it's tough to "execute" properly.
Shafiq, your site looks good in my opinion. I'm not overly impressed with the title page's big "enter" link on it, but once inside it's not too bad. Seems a little long before the navigation starts, and the "loading" graphic is a bit simplistic, but reasonable. The music is okay, but I don't know that it really adds to the experience -- it seems like it was done because it was possible, not because it fit. It's a pretty short loop, too. Perhaps just on the intro, then fade it out?