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I skimmed through it and it does look like they really broke it down into nice little steps intead of giving you a lump of code, which is very helpful. I will take another in-depth look when I have the time. Thanks, nice find.
I have not made 3D flash games but I have tested out an actionscript 3D engine long time ago. It was confusing and difficult to work with though. This was back in flash 4 or 5 though.