Michael Moore (no, not the documentary director!) brought this little IE 7 quick fix to my attention.
Just below the last
Open a new document in Notepad or your HTML editor, and copy & paste the following content into it:
theObjects = document.getElementsByTagName("object");
for (var i = 0; i < theObjects.length; i++)
theObjects[i].outerHTML = theObjects[i].outerHTML;
Save this file as fixit.js
Pretty cool stuff.
For more control and some additional features there is SWFObject:
Check out SWFObject.