I came across this article by Christophe Coenraets on the Adobe AIR developer center while searching for something else today.  It describes several methods of integrating SQL Lite into your AIR application.  Pretty handy if you have little experience with any of these models.

http://www.adobe.com/devnet/air/flex/articles/sqlite_db_api_in_air.html

A nice article from Adobe Open source about when to use [Bindable], why you might not want to use it, etc.  Definitely worth reading.

http://opensource.adobe.com/wiki/display/flexsdk/Conventions+for+Bound+Properties

Adobe is offering the Buffalo Flex Users Group members special pricing on Adobe software. Place your order before March 2, 2009, in order to save 20% on all Adobe products in the North America online Adobe Store.

Here are the simple steps required to get your discount:
1) Visit http://www.adobe.com/go/cspartners and fill out the form. You must enter the Association Name AUG and the Member Number 72360 when filling out the form.
2) A custom Adobe Store URL with an embedded coupon code will be e-mailed to you.
3) The custom URL can be used only one time, and only by the requester. Additional program terms and conditions are detailed at the URL referenced above.

If you have additional questions or would prefer to place your order by phone, contact Adobe at 800-585-0774.