Up until this year actual 3D in Flash has been nonexistent. If you wanted to achieve some sort of faux 3D effect you’d more than likely have to rely on importing an image sequence or vector animation from some third party application – so needless to say, I was really excited to learn about Papervision3D.
Papervision3D is an open source realtime 3D engine for Flash. Basically, it allows you to texture map and render a low polygon object, which you can then affect with Actionscript and any of the other resources in your Flash movie.
Pretty cool stuff as far as interactive design goes on the web and there are already a lot of interesting examples out there: