it was just to talk about and i know that notch has a lot on his plate and that but he could have change the name .i like minecraft the way it is trusted me i play like 7 hours a day but stilland p.s i did not know that the update is a week from now so thanks for telling me:)

It's pretty hard to make a game, I'm sure. Right now, Notch and the team at Mojang are probably more worried about making the game more enjoyable for us than the name of an item. I don't really think it's a big deal. Don't be too worried about it, Mojang is always adding things in for us, and 1.3 is only weeks away now. Just play the game, I don't think your using flint and steel so much that it can bother you that much. Anyway, if you want answers, there can be two.
One answer is that steel is made from iron. A second is that flint and steel was in the game before iron was (and if it was, items didn't have tooltips back then), so when iron was added, it kinda just stuck with the name. Either way, it's a video game in the end, so everything doesn't have to make sense. Have you ever heard of something called glowstone in real life? Don't worry, and don't demand too much of Mojang, they're working hard on making Minecraft better.