Macromedia released Flex Builder (formerly code named Brady), the IDE for Flex.
Flex Builder comes bundled with Flex. When you purchase Flex, you receive 5 licenses for Flex Builder.
The net result is that Flex as a product is updated and now the price, considered out of reach by many of us, includes a nice IDE. On top of this, Flex Builder is based on DreamWeaver MX 2004 and has every feature it has, so when you have Flex Builder, you don’t need an extra DreamWeaver license.