Yup! Flex Apps on your mobile. And I'm not talking about Flash Lite and you won't need CS5 either.
ELIPS Studio converts the Flex code in native code for Windows Mobile, Symbian, Android, iPhone and mass-market mobiles. It's still beta and you have to register for a beta account to get it but I think will do wonders for the mobile dev. world.
Read More
http://blog.another-d-mention.ro/programming/create-flexas3-applications...