It's the moment that comes every couple of years...yet another version of Flash is soon to be released by Adobe. You can check out the official scoop over at the Flash CS4 Product Page. But for those of you who haven't made it over to Cold Hard Flash yet, Aaron Simpson has posted two fabulous demos/previews of the new "bone" or "inverse kinematics" feature. Which will be a godsend to all you tweeners out there and familiar to anyone who's been using ToonBoom or any 3D program for that matter. In a nutshell, you'll be able to rig a skeleton to your character's body parts, allowing for joints to make rotating and bending a snap.
Other new features include object based animation, a supposedly more intuitive form of motion-tweening, and 3D transformation of 2D objects. Possibly even bigger news is something called XFL file support, which means you'll be able to open content from After Affects and InDesign in Flash. All sorts of fancy new stuff. I'm mainly hoping we see a speed boost, less glitchyness, and smoother pen performance.
UPDATE: Matt passed around an even more detailed video. Watch it here.