In my opinion Flash just bogs down your site...seems to annoy more people than it impresses. I've always been a fan of just "art dump" sites like:
http://mv.cgcommunity.com/
http://www.hethe.com/portfolio05.html
http://www.benregimbal.com/
I think the artist in you will always want to make something that's pretty but at the end of the day all that should matter is that your work stands out and is easy to view. Right now my site is just a temporary 1 page type of deal but I think even when I get off my ass and actually make a working one, it won't be much more than what I already have.
I think there's another school of thought for this that believes everything about you should show off your artistic skills. Website, demo reel case, business card, etc. That may be the case if you're trying to be a graphic desgner or something that will actually use skills like that, such as webdesign. But I think the straightforward sites always leave the best impression.
Bit of a rant there..
Gav