As long as Flash DRM doesn't use TPM/smartcards/etc it's a cat and mouse game - it's theoretically possible to reverse engineer Flash software and write new imp

As long as Flash DRM doesn't use TPM/smartcards/etc it's a cat and mouse game - it's theoretically possible to reverse engineer Flash software and write new implementation, but then it's likely that Adobe would switch to new keys/protocols and/or Hulu would drop Flash support to prevent ripping. Maybe if you asked very kindly, Adobe themselves would release a heavily obfuscated Javascript blob which implements Flash DRM. But at this point they could as well simply fix bugs in their browser plugin. And I don't even know how Flash derives its decryption keys. If this process involves contacting some Adobe servers, it's possible that your problems are caused not by client software, but by network failures or server downtime.