Apollo, Moxie, Frogstar
I have no idea which one I should be more excited about! 
Codename: Apollo
Name: Adobe Integrated Runtime (AIR)
Info: http://labs.adobe.com/technologies/air/
Description: Adobe AIR, formerly code-named Apollo, is a cross-operating system runtime that allows developers to use their existing web development skills to build and deploy rich Internet applications to the desktop.
Download Runtime (Beta) | Download SDK (Beta)
Codename: Moxie
Name: Flex 3
Info: http://labs.adobe.com/technologies/flex/
Description: Adobe Flex 3 is a cross platform, open source framework for creating rich Internet applications that run identically in all major browsers and operating systems.
Download Builder (Beta) | Download SDK (Beta)
Codename: Frogstar
Name: Flash Player Update 3
Info: http://labs.adobe.com/technologies/flashplayer9/
Description: Adobe Flash Player is the high-performance, lightweight, highly expressive client runtime that delivers powerful and consistent user experiences across major operating systems, browsers, mobile phones, and devices.
Download Player (Beta)
Along with the above mentioned series of exciting betas, there’s also a contest going on called Adobe AIR Developer Derby! Read more!
