If you keep up with the community weblogs, then you probably already know that Macromedia Flash and Flash Pro 2004 are now available from our website. If you have been waiting to check out the new tools, head on over to the Macromedia website, and you can download a 30 day trial. If you are a DevNet Pro subscriber, then you can download the full version of Flash Pro from your subscription portal.
So, what is my favorite new feature? Well, I am excited about the new components (tons of them) and ActionScript 2.0, but I my favorite feature is the extensibility layer, which allows you to create reusable commands and behaviors as well as script the IDE. You can do some really cool stuff with the extensibility layer (such as compiling and publishing SWFs from the command line).
You can find more info on Flash 2004 and Flash Pro here.
You can download the trial from here.