YES! its coming.
I should end my blog there, but since I don’t want to be lynched let me give you a peek at what to expect.
We are planning to release an extension for Flash CS3 that will allow you to author for
Adobe® AIR. We are planning to do a prerelease at the same time as the next public release of the runtime. It will be made available as a download on our Labs site.
No, I don’t have a date.
You will be able to select AIR as the version type under the Publishing settings.
Then you will have a new "AIR – Application Settings" option in the commands menu.
Click to enlarge
This will allow anyone to quickly start authoring for Adobe AIR with Flash CS3. Looking forward to having it out to you soon.