Lee Brimelow, platform evangelist for Adobe Flash, gives us an early runthrough of key Flash CS5 features. Really good stuff includes integration between Flash Builder (or Flex Builder, as it was) and the Flash IDE, excellent code hinting in the ActionScript panel, a more open file format than FLA (XML documents and exposed assets), and SWFObject as the embedding technology when publishing.

In a separate post, he demonstrates compiling a Flash file into a native iPhone app.