We estimated photospheric velocities by separately applying the Fourier Local Correlation Tracking (FLCT) and Differential Affine Velocity Estimator (DAVE) methods to 2708 co-registered pairs of SOHO/MDI magnetograms, with nominal 96-minute cadence and ~2 pixels, from 46 active regions (ARs) from 1996-1998 over the time interval t45 when each AR was within 45^o of disk center. For each magnetogram pair, we computed the average estimated radial magnetic field, B; and each tracking method produced an independently estimated flow field, u. We then quantitatively characterized these magnetic and flow fields by computing several extensive and intensive properties of each; extensive properties scale with AR size, while intensive properties do not depend directly on AR size. Intensive flow properties included moments of speeds, horizontal divergences, and radial curls; extensive flow properties included sums of these properties over each AR, and a crude proxy for the ideal Poynting flux, the total |u| B^2. Several magnetic quantities were also computed, including: total unsigned flux; a measure of the amount of unsigned flux near strong-field polarity inversion lines, R; and the total B^2. Next, using correlation and discriminant analysis, we investigated the associations between these properties and flares from the GOES flare catalog, when averaged over both t45 and shorter time windows, of 6 and 24 hours. We found R and total |u| B^2 to be most strongly associated with flares; no intensive flow properties were strongly associated with flares.