Just finished reading all 600+ pages. I have four other Flex books I've read/perused. This book is by far the best flex book WTR understanding and applying its architecture. Combine it with the "Flex 3 Bible" by Gassner and I think that's all you should need. Most programming books give you a a lot more hows, and a lot less whys. This book is all about why, not simple hows. Knowing why to do something will, long term, be of great benefit.
Also the writing in this books is exemplary. Very clear, not too wordy, not too concise, and very good use of illustrative examples. Really, really excellent. Few programming books of this length can I read and understand over the course of a day or two. Usually such books require a read thru, then re-reference. But because of the excellence of the writing, I did not find this the case here. Literally sat and read it front to back over the course of three days.
Looking at the other reviews, it appears some others have complained about examples, or thoroughness of a feature description. Again, this is a book about why you make programming decisions, not how to write the code -- get the Bible for this. IMHO, it does a pretty good job with the examples, but it is not the intent of the book. Finally, the authors end the book with a discussion of a full app they wrote accessing Flickr. The entire source code is available for download, and provides a very in-depth "example". Strongly suggest readers DL and read thru the code references the explanations the authors provide in the book.
I have read a lot of books about programming, and this is one of the best. Going back to some of my other Flex books, they seem simplistic now.
Finally, I've taken note of the two companies for which the authors work (from the book's jacket). If they contribute to these as well to these as they did the book, then might be a good investment -- notably Kazoun who is a co-founder and tech architect. Unusual investment strategy, but that's the high regard I hold for these two authors.