The puzzling part, for me, is that iPlayer already happily serves plain H.264/AAC within MPEG-4 to mobile devices. Having removed Flash from my MBP a few months ago, the simplest means of accessing iPlayer for me, when not on the iPad, is just having OmniWeb identify as an iPad to the BBC.
A sample user agent: "Mozilla/5.0 (iPad; CPU OS 6_0 like Mac OS X) AppleWebKit/536.26 (KHTML, like Gecko) Version/6.0 Mobile/10A5355d Safari/8536.25"