The folks at Plug-in Media recently held an internal hack day. Their challenge: create a browser based game that would perform well on iOS using HTML, CSS and javascript. To accomplish this they used a few basic strategies. First they avoided using the <canvas> tag. Second they pulled a little trick to take advantage of the GPU processing that's tied to CSS3 3D transformations.
Read the details here on Seb Lee-Delisle's blog: http://sebleedelisle.com/2011/04/html5javascript-platform-game-optimised-for-ipad/
If you come to FITC Toronto you can hear Seb speak about the Future of Flash and CreativeJS and HTML5 in the Influxis Voodoo Lounge.