I'm doing a bit of Flash work for a mate who is setting up a website to host video. One of the problems I just solved was how to get some text to flow around an image. I was hoping there would be some sort of way to make a textfield of arbitrary shape (with vectors or something) because I really wanted an L shaped textfield, so I could place an image in the upper left corner, but sadly, they are just rectangles. I found this post though, and the solution was so simple.
Just convert the textfield to Render text as HTML! Put your normal HTML tags in, and it's all good bro.
That's what I like about this whole Flash thing - it's very easy to merge the richness of Flash with the simplicity of the web.
What I don't like is that the content isn't searchable by Mr. Google :-(