Earlier today I was browsing through Adobe Lab’s website to catch up with whats been going on there, and one of the main headlines in the development side of things is the transformation of Apollo into AIR, and although it looks good, it just looks like Java because you will need a virtual enviroment to run the application but the twist is that you have the ability to leverage current skills in HTML, ActionScript, Flash and more. The other piece of interesting information is that of Flex 3 beta. Adobe is taking on some concepts of the open-source market in that they are going to release earlier beta versions to have the community help with bugs and influence the development of Flex 3.
The interesting fact about Flex is that it works with the Flash plugin as its operating base, now this may sound just like another language named after a coffee but the great thing about flash is that it is becoming more and more prevelent on the internet, with huge sites like Youtube and DailyMotion using flash based players, it requires that they have flash installed. Another interesting thing about flash was that it was design for developers, not designers. So forget everything you thought about having to be artistic to use the functionality and flexibility of flash.
There is one problem I have with flash and that is that it is not SEO friendly at all, this is acceptable if you are developing a application to be used inhouse but if you want to create an online service you would need to create a handful of seperate content pages to make sure that the search engines find whats on your site. I guess a possible fix to that could be developing your site with Flex, XML/RSS and a sitemap (possibily having multiple entrance points into an application).
I just touched on the surface of these technologies, for more information check out the links below
Flex Development Center - Flex quick start guide for PHP Developers

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