So far all I know for sure is that the resulting company won't be called Macrobe.
It'll be interesting to see how this all shakes out, though. My favorite editor, HomeSite, was built by an outfit that Macromedia bought some years ago. As far as I know, HomeSite was always included in every box of Dreamweaver, going back to at least v2. I'm worried now that we won't see another one.
Dreamweaver and Fireworks are wonderfully integrated. It would be a shame to see that go away, but I fear it might because Fireworks has been steadily eating away at the market Photoshop took from PhotoPaint and the others almost a decade ago. Photoshop is huge, both in market share and as a program, and I don't think it can be worked into the Dreamweaver workflow experience as easily. We go from Dreamweaver to Fireworks as easily as moving from Photoshop into ImageReady. I'd hate to see them drop Fireworks, but I'm sure they don't think they need two competing boxes on the shelves of America's BestBuys. Maybe there'll be some work to make Fireworks more Photoshop-like?
Flash is going to be with us forever, I'd bet. The open-source alternative isn't up to speed yet and it's a happy brand. Contribute has a lot of fans, too. I don't know anybody who uses GoLive and loves it.
In the end, though, I wonder if even they know what they're going to do with everything, yet? We're living in the Chinese curse of "Interesting Times", I guess.