This is a problem that started with installation of Panther & Safari 1.1.
I'm loading a page that consists primarily of Flash content. The first time I go to the page, it loads fine. Subsequent visits fail to load until I clear my cache.
I've reported this to Apple... and I'm seeing it on two different systems running Panther.
The site demonstrating the problem is:
http://www.kurland-digital.com