Nice looking racing game created by Bartek Drozdz that showcases several of the capabilities of the Flash Player 10 version of the engine. Bartek also discusses his experiences with doing a similar game in Unity3D. Also - do not miss out on his WebGL experiments and J3D engine.
Bartek is also the author of the popular AS3Dmod engine that plugs in nicely with Away3D to apply realtime distortions like Bend, Skew, Taper, Twist and more. A must for realtime 3D in Flash!