Different to what some of us had hoped, the SDK update process didn't get much easier with Flash Builder 4.7.
Furthermore, a fresh install contains the already outdated AIR 3.4, which produces lots of compiler errors (at least on my system). Thus, you should upgrade to AIR 3.5 directly after the installation.
Furthermore, a fresh install contains the already outdated AIR 3.4, which produces lots of compiler errors (at least on my system). Thus, you should upgrade to AIR 3.5 directly after the installation.