Under normal circumstances, we recommend updating immediately whenever an important security patch is released, but in this case, we have a somewhat different recommendation. Instead of leaving Flash on your Mac, you can instead isolate it and thus reduce the attack surface available to the bad guys. This is both easier and require far less fuss going forward than you might think, and it is how I’ve been using my Mac for the past year or so.
This may not work for those of you in enterprise environments (my TidBITS writing is all for consumers), but you should consider it. The technique should work on Windows, not just Macs.
Some people also like ClickToPlugin, which blocks all plugins on a page until you click to enable them. I deliberately left this out of the TidBITS piece because it is more advanced users.
Then again, if you are in enterprise security I suggest you take a hard look at Bromium, Invincea, or any competitors who crop up. They can give fairly good results without interfering with user experience at all.