You can easily achieve parallax scrolling in Flash CS4. Using the vCam AS3, apply different Z positions to your movieclips. Then tween the camera and publish your movie. How easy is that?

Here is a test I ran (Flash Player 10 Required):

Download FLA (Flash CS4)

Many of you have been asking for a depth-of-field feature for the vCam AS3. I've been running some experiments recently with Flash CS4 and it appears to be feasible. There is however a bug in CS4 that causes timeline based tweens to be deleted whenever you apply a filter using ActionScript. I've submitted a bug report to Adobe. The depth-of-field feature won't be of much use until this bug is worked out because all your precious tweens will be removed when the vCam attempts to apply the filter to your timeline instances.

It's important to note that all of the blurring and motion you see in the animation below is being handled by the vCam.

Here is the result of my test (Flash Player 10 Required):