In 2005 I started down my path of trying to create optimized rendering for Flash games by making a series of Asteroids prototypes in Actionscript 2 and Flash 5 or MX 2005 (I forget which).
The first I create was a port of a game from a Book by Gary Rosenzweig called Flash Game University.
You can checkout the web site for the Action Script 3 Version Here: http://garyrosenzweig.com/books/as3gpu/book_table_of_contents.html
Older Posts about the making of this game
Mission Zeno Fighter Chronicles #1