Firefox differs from Chrome in that it will enable Flash for a whole page, rather than per-element. This means you still need an extension for blocking Flash ads on Flash video sites.
Firefox's model is better, I think. Plenty of sites use hidden flash videos for various utility functionality. How are you supposed to click on these hidden videos so that you can enable them?
https://blog.mozilla.org/security/2012/10/11/click-to-play-p...
Though I just never bothered installing Flash. If I need Flash for a site, I use Chrome (which comes with Flash embedded, I believe).