From www.randytroppmann.com - October 10, 2011 4:00 AM

Previously it was not possible to achieve hardware decoding of streaming H.264 video in AIR-made apps on iOS, perhaps served in a multi-bitrate manner . I KNOW, huh? It is, in fact, a very specific requirement for achieving quality video playback on devices. And it is now possible because of AIR 3 and a few other technologies that have been released recently by Adobe.