Fi, the Stockholm/New York City agency that was formerly known as Fantasy Interactive built up its history by making glossy flash sites where nearly every element on the screen moved and had audio attached to it. The agency has matured over the years and uses Flash more selectively and strategically now, and the name change is meant to reflect that maturity.
The founder talks about usability as the thing that will characterize Fi in the future, and their clean site update reflects that. The site organization is easy to grok, and easily navigable, and projects a company with a bold and confident point of view. The screenshots, slideshows, and project reels of their work tell the story very effectively.