This post is extremely useful for serious ActionScript 3.0 programmers. Kids has nothing to do with it but any serious application cant give high results and framerate without code optimization. Memory and processor optimization is especially important for those who make games and complicated graphics. Most of the information in this post represents links with description but in time maybe I will add textual information and more links.

Colin Mook talking about garbage collector on Adobe TV
http://tv.adobe.com/watch/colin-moocks-lost-actionscript-weekend/object-references-and-garbage-collection/

Slide show about memory and CPU management from Grant Skinner
http://www.gskinner.com/talks/resource-management/

The blog of Grant Skinner - lots of info about stuff
http://www.gskinner.com/blog/

Some tips
http://www.lostinactionscript.com/blog/index.php/2008/09/28/tips-on-how-to-write-efficient-as3/

Useful tips with examples and many links
http://www.rozengain.com/blog/2007/05/01/some-actionscript-30-optimizations/

Tips from Andre Michelle
http://blog.andre-michelle.com/2005/as3-optimations-suggestions/

ActionScript 3.0 and AVM2: Performance Tuning - pdf
http://www.onflex.org/ACDS/AS3TuningInsideAVM2JIT.pdf

Resource management strategies in Flash Player 9
http://www.adobe.com/devnet/flashplayer/articles/resource_management.html

Understanding garbage collection in Flash Player 9
http://www.adobe.com/devnet/flashplayer/articles/garbage_collection.html

gskinner.com: gBlog: Types in AS3: ints not so fast, uints slow!
http://www.gskinner.com/blog/archives/2006/06/types_in_as3_in.html

Actionscript optimization resources
http://www.gotoandplay.it/_forums/viewtopic.php?t=179

More performance tuning in Actionscript 3
http://www.danielhai.com/blog/?p=55

Bitwise gems - fast integer math
http://lab.polygonal.de/2007/05/10/bitwise-gems-fast-integer-math

AS3 and AVM Performance Tuning tips from Gary Grossman - pdf
http://www.onflex.org/ACDS/AS3TuningInsideAVM2JIT.pdf

AS3: Rethink your old assumptions
http://www.bit-101.com/blog/?p=1023

ActionScript 3 Performance Tuning by Matt Chotin - pdf
http://www.adobe.com/devnet/flex/articles/as3_tuning/fm_as3perf.pdf

Fast and accurate sine/cosine approximation
http://lab.polygonal.de/2007/07/18/fast-and-accurate-sinecosine-approximation

Optimizations for AS3 calculations
http://www.rockonflash.com/blog/?p=63

Fast Flash9 Fixed Point Sine
http://blog.haxe.org/entry/26

AS3 Interesting Numeric Storage Behavior
http://drawk.wordpress.com/2007/06/06/as3-interesting-numeric-storage-behavior

Flex RIA Performance Considerations Part 1: Getting Started
http://www.insideria.com/2008/03/flex-ria-performance-considera-1.html

Boost memory performance on data structures using HashMapCollection API
http://elromdesign.com/blog/2008/03/27/boost-memory-performance-on-data-structures-using-hashmapcollection-api

Flash AS3 optimization - Fastest way to copy an array
http://agit8.turbulent.ca/bwp/2008/08/04/flash-as3-optimization-fastest-way-to-copy-an-array

Making dispatchEvent More Efficient
http://www.gskinner.com/blog/archives/2008/12/making_dispatch.htm

ActionScript 3 Vector / Array Performance Comparison
http://www.mikechambers.com/blog/2008/09/24/actioscript-3-vector-array-performance-comparison

ActionScript 3 Performance Tester
http://businessintelligence.me/projects/performance_tester/performanceTester.html

Excellent article about benchmarking
http://www.stephencalenderblog.com/?p=7

Top Ten ActionScript Performance Tips
http://www.stephencalenderblog.com/?p=109

Tips on how to write efficient AS3 - part 1
http://www.lostinactionscript.com/blog/index.php/2008/09/28/tips-on-how-to-write-efficient-as3

Tips on how to write efficient AS3 - part 2
http://www.lostinactionscript.com/blog/index.php/2008/11/01/tips-on-how-to-write-efficient-as3-part-2

AS3 Performance Testing Harness
http://www.gskinner.com/blog/archives/2009/04/as3_performance.html

Joa Ebert: Code Optimization
http://wiki.joa-ebert.com/index.php/Category:Code_Optimization

LinkedGrid
http://pixelero.wordpress.com/2009/06/11/linkedgrid

LinkedList
http://wiki.joa-ebert.com/index.php/LinkedList

Flex Databinding Performance
http://www.screenshot.at/blog/2009/04/18/databinding-under-the-hood-part-1-performance

Round up of ActionScript 3.0 and Flex optimization techniques and practices and some links
http://www.insideria.com/2009/04/51-actionscript-30-and-flex-op.html

Sean Christmann: Optimizing Adobe AIR for Code Execution, Memory, and Rendering
http://www.craftymind.com/2008/11/20/max-2008-session-material/

Dennis Ippel: Some ActionScript 3.0 Optimizations
http://www.rozengain.com/blog/2007/05/01/some-actionscript-30-optimizations/

Shane McCartney: Tips on how to write efficient AS3
http://www.lostinactionscript.com/blog/index.php/2008/09/28/tips-on-how-to-write-efficient-as3/

Flex Application Performance: Tips and Techniques for Improving Client Application Performance
http://www.adobe.com/devnet/flex/articles/client_perf.html

Stephen Calender: ActionScript 3.0 Benchmarking
http://www.stephencalenderblog.com/?p=7

Grant Skinner: Types in AS3: ints not so fast, uints slow!
http://www.gskinner.com/blog/archives/2006/06/types_in_as3_in.html

Grant Skinner: Resource management strategies in Flash Player 9
http://www.adobe.com/devnet/flashplayer/articles/resource_management.html

Gary Grossman: ActionScript 3.0 and AVM2 Performance Tuning
http://www.onflex.org/ACDS/AS3TuningInsideAVM2JIT.pdf

Fastest way to copy an array
http://agit8.turbulent.ca/bwp/2008/08/04/flash-as3-optimization-fastest-way-to-copy-an-array/

Andre Michelle: AS3 optimations & suggestions
http://blog.andre-michelle.com/2005/as3-optimations-suggestions/

Package-level function closures in ActionScript
http://www.ericfeminella.com/blog/2008/05/06/package-level-function-closures-in-actionscript/

ActionScript 3 optimization techniques
http://blog.joa-ebert.com/2008/04/26/actionscript-3-optimization-techniques/

AS3 Performance Tester
http://businessintelligence.me/projects/performance_tester/performanceTester.html

There is a new method drawPath() in FP10 and drawings render faster with drawPath() than with a series of individual lineTo() and curveTo() methods
http://www.flashandmath.com/basic/drawpathCS4/index.html
http://help.adobe.com/en_US/AS3LCR/Flash_10.0/flash/display/Graphics.html#drawPath()

AS3 garbage collection monitor
http://www.soundstep.com/blog/2010/01/18/as3-garbage-collection-monitor/

John Iacoviello – Papervision3D Optimization Tips
http://interactivehug.com/2008/04/21/john-iacoviello-papervision3d-optimization-tips/

Polygonal Labs - bitwise operations
http://lab.polygonal.de/2007/05/10/bitwise-gems-fast-integer-math/

There will be more links in future