Lee Brimelow has posted a great video tutorial on iPhone development using the upcoming Flash Professional CS5 over at gotoAndLearn.com. In the video you can see just how easy it is to produce an application that uses the accelerometer. On top of that he shows some incredible demos of GPU surface caching at the end after the compilation step.
If you’re in the midst of learning AS3 for the future then I suggest going through his video series. Lee is a great presenter and you can get some inspiration for your first AS3 project to boot.