Do you use transparent PNGs in Flash, Flex or AIR? Want to cut your application file size in half?
Problem:
Embedding transparent PNGs dramatically increases the size of your Flash, Flex and AIR applications. Photoshop and Fireworks dot not have any compression available for transparent PNGs (that I am aware of).
Solution:
Import your PNGs into Flash, [...]

Distort and taper images in BOTH ActionScript 2 and 3 without a big 3D engine. Is it possible? YES!
**Update
(12/15/09): Alex Uhlmann made this class even better! Distortion Effects (AS3 only)
(06/24/09): After doing some more research I found that Ruben Swieringa re-wrote this same class into AS3 exactly two years ago. [...]