Read/WriteWeb has a coupla articles on Adobe AIR, which was launched at the Adobe Engage 2008 event today in San Francisco: The Best Things About Adobe's AIR Platform and 6 Adobe AIR Apps to Check Out.
RichFLV (pictured above) seems cool; it let`s you edit .flv files and metadata.
There are more AIR apps at the Adobe AIR Marketplace, and John Dowdell and Ryan Stewart note other press coverage.
Update: Lee Brimelow has an article on Streaming Media on Building Video Apps With Adobe AIR.
Update 2: Adobe released a new version of the desktop color harmony browser kuler.