Lee Brimelow posted a Sneak peek of Flash CS5:
"I just uploaded a new video that shows all of the exciting new features coming in Flash CS5. In a previous video I focused on the new iPhone development features but this video shows the rest of the cool stuff we have in store for you. This includes the XFL format, the new text engine, and the one and only Deco tool. Again, this is a prerelease version so everything is subject to change."
Update: iPhone and physics demos of CS5 (via CS5.org),