I read "The Flash" as a kid, and although his main claim to fame is that he can run really, REALLY fast, it was always a fun comic, and of course great at getting me to run down the street as fast as I could. :-)
Goyer has stated in prior interviews that he would probably use the Wally West version of Flash as opposed to Barry Allen. This does however conflict with the following comment by Goyer:
"I think the character of the Flash, who moves faster than the speed of light, opens itself up to rich cinematic and story ideas." [emphasis added]
According to the comics, Barry Allen was able to run at the speed of light, but Wally West can only move at the speed of sound. My guess is that Goyer will use the West character but impart him with Allen's powers.
After the disappointment of Blade: Trinity, I'm holding my breath as far as any upcoming Goyer-involved properties. If Batman Begins turns out to be great I'll just consider Blade III an anomaly.