I think Silverlight is most advantageous for companies that have .NET developers but noone with designer experience.
Skill sets will be easier to find as far as finding C# or VB developers vs finding ActionScript guru's. However there is the trade off:
Design experience is an investment not only in Designers with artistic skill, but also in the knowledge and tools provided by Adobe. You can nearly guarantee that a professional designer uses a mac and has experience with Adobe tools.
Right now the Silverlight designer tools are half baked and can be a headache. For instance Blend errors when trying to render any xaml containing an IValueConverter, this is problematic. I have no idea what the Adobe developer experience is, I'm sure it is as hairy.
So at this stage of the game it comes down to human resources:
If you have .NET experience and little invested in Design skills go Silverlight. Programming skills/tools will be transferable.
If you have Design experience and skill set go with Flex. Designer skills/tools will be transferable.
Either way both client platforms require communication with services to get data, so you will always leverage your existing programing expertise on the back end.
Paraphrased Jon's opinion from a different point of view:
I think you should look at Flex as a long-term play, just as Adobe seems to be doing. There's an obvious balance on when to use Silverlight vs. Flex when you're concerned about reach and install base, but here are more reasons Flex is a good direction to move in:
Second mover advantage - Just as
Adobe built a "better Java Applet"
with Flash, they're able to look at
how you'd design a runtime from
scratch, today. They have the
advantage of knowing how people use
the web today, something the
inventors of existing client
platforms could never have
accurately guessed. .NET can add
features, but they can't
realistically chuck the platform and
start over.
Designer familiarity - While
Flex/AIR is a new programing model,
it's not entirely unfamiliar to
designers. They'll "get" the way
Flex works a lot more quickly than
they'll understand firing up a new
design environment with new feature
poor tools and new animation
paradigms.
Being rid of the RGB color model in
Silverlight- .NET was originally
built for windows and it is at the
core of how it works. Flex ditched a
long time ago for an design-centric
model.
All your tools run on your mac. Nuff
said.
Cool features - Silverlight still
has some catching up to do with
Flash on some obvious features (like
webcam / mic integration, or 3d /
graphics acceleration).