I made an effort to check if noone had posted this and I couldn't find anything so if someone has posted this just ignore me and I'll be eternally embarassed :o :D
From: http://www.moock.org/blog/archives/000146.html
Yesterday Kevin Lynch, Macromedia's chief software architect, demonstrated the next generation version of the Flash player at the macromedia flash conference in Tokyo, Japan. the packed crowd was the lucky first public audience in the world to witness what's coming next for Flash.
Only a few features were shown, but already you can see the monumental improvements being made. Man, does the next player ever scream.
The video shows:
-saffron, a new type-rendering engine
-dramatic performance improvements (a sluggish calendar app jumps from 14fps to 125fps)
-realtime bitmap effects (blur, dropshadow, colour matrix etc)
-realtime video alpha channel
The site has a huge number of mirrors for the video with different file sizes to suit different bandwith needs
