"To make it work in both Chrome and Firefox, we had to use sink.js, to abstract the differences between the audio APIs."
But isn't that exactly what Flash is? Yes sink.js would be an open solution but it would be an open solution based on proprietary APIs built into the browser (which themselves are open source but which can't be changed without approval of their governing bodies making them not that much different than Flash and its product teams)
So really we've traded Flash's native audio processing for a JavaScript solution using a Web API which in turn uses native APIs.
It seems like it would be more productive to force the browsers to develop one common API