Silverlight/WPF vs Flash : supposed to be similar according to Microsoft but not really-Collection of common programming errors
Silverlight is NOT similar to Flash. It is, however, similar to Flex, which is an SDK that runs in the Flash/Air runtimes. So, in that regard, they are similar. If you want to compare, you need to compare with Flex.
Here is a series of posts (written by me) comparing Silverlight and Flex feature by feature. They are strikingly similar:
http://houseofbilz.com/archives/2010/10/24/cross-training-in-silverlight-vs-flex/