I am doing the demo of Flash Catalyst this month. I've been speaking on it for about 8 months now and really like the product.
Adobe® Flash® Catalyst is a new professional interaction design tool for rapidly creating expressive interfaces and interactive content without writing code. Create interactive portfolios, product guides, microsites, site navigation, interfaces for RIAs and more.
* Transform artwork created in Adobe Photoshop®, Adobe Illustrator®, and Adobe Fireworks® into interactive designs.
* Rapidly create interactive prototypes with the ability to leverage them in the final product
* Publish a finished project as a SWF file ready for distribution
* Work more efficiently with developers who use Adobe Flash Builder 4 to create rich Internet applications (RIAs). Designers use Flash Catalyst to create the functional user experience then provide the project file to developers who use Flash Builder to add functionality and integrate with servers and services.
http://experts.na3.acrobat.com/kcwebcore
Dee
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