Now that the Flash player 11 alpha is in the wild, the Away3d team have released Broomstick, a GPU accelerated version, with the familiar feel of Away.
Development with Molehill is not for the faint hearted, and accessing the alpha technology through an alpha framework is bound to cause you to start smoking again, but hey, it's also fun to pioneer new technology.
For a primer on the "new" way to do 3D, and a sum up of the technologies, you could do worse than check out this presentation, "brief" (about 100 slides) about Flash, WebGL and Unity. http://www.inear.se/2011/04/a-brief-introduction-to-3d/
Lucky for me, I've got time to play with this stuff right now.
Experiments to follow...