I have had a really hard time with Flex because I cannot seem to find a way to externalize properties.
For example, with a Java Web application, I can have a packaged Java Web archive (.war) file built and deployed in a test environment and that binary can be migrated to each SDLC environment up to production and the only thing that has to change in each environment is my .properties file, which can be external to the .war file. So, I can have a compiled Java binary deployed and if a service end-point changes or a JDBC connection string changes, I can just change the .properties file without re-compilation.
How can support this deployment/configuration model with a compiled Flex application? Maybe I am going about it all wrong, maybe I am missing something?