A flash memory system including a flash memory device and a controller, operable according to an advanced data transfer mode is disclosed. The flash memory device is operable both in a "legacy" mode, in which read data is presented by the memory synchronously with each cycle of a read data strobe from the controller, and in which input data is latched by the memory synchronously with each cycle of a write data strobe from the controller. In the advanced mode, which can be initiated by the controller forwarding an initiation command to the memory, the flash memory itself sources the read data strobe and also a write data strobe that is out-of-phase relative to the read data strobe, and presents data synchronously with one of the edges of that read data strobe. In the advanced mode for a data write, the input data is presented by the controller synchronously with a selected edge of both the write data strobe and the read data strobe. The voltage swing of the data and control signals is reduced from conventional standards, to reduce power consumption.