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I agree with you with respect to which one is better, if better is defined as being more consistent with the way web 2.0 is "done". I can't say for sure because I haven't used either of them. Indeed, fat clients are passe.
My question is this: what online slideshow space is this that you refer to? I didn't know there was one. Please explain how this will work (i.e. make money). Is web 2.0 innovation about making simple widgets or online caldenders or whatever and praying for an acquisition by Google, Yahoo, etc? I can't think of any other exit strategy and even acquisition is a stretch. Many of these companies are based around single products that seem to me like weekend projects. Who's funding them, and why? Online slideshow space? Where is the real innovation?
It's definitely the Social Networking & Comments that make Flickr heads and tails above the rest!
I've just thought of a Great Mashup!!
;))