Slice had mentioned this in another thread (thx!), I like to draw your attention to it because it's really worth it: http://www.arthurdepins.com
Have a look at this guy's incredible smooth animation! All the links in the right column, expecially the ones behind the "&" sign, are worth studying. If you don't believe me, here's the absolute appetizer: http://www.arthurdepins.com/petites_animsflash/Bg27.swf
It looks like it's done in Flash, and you know we could do this in AS as well ...
I have to admit, I wish Arthur had done a naughtier version of that one. He's really an amazing talent, check out his illustrations too because they're really vibrant and like Norman Rockwell, he's able to tell a whole story in one frame.