Along with the rest of the CS3 bundle, Flash CS3 was released today. Most of the features had already been announced at various conferences, but nonetheless this is very exciting. I personally am especially excited about the native Illustrator importing -- we use Illustrator on about 90% of our projects at XPLANE, and not having to deal with the pain of importing those files will be a huge help.

Mike Downey has more information and a quick-and-dirty feature listing on his website:

http://weblogs.macromedia.com/md/archives/2007/03/announcing_flas.cfm