I personally have had a few of people asking me - "when is Flash lite 2.0 gonna be out?" Well, Am not gonna answer that here, but it has been previewed in the MAX 2005. Here is an article
Jonathan Duran has written about the new features in Flash lite 2.0.
Just jotting down the titles from his article:
Flash 7 Code Base and ActionScript 2.0 Support
Parsing External XML
Local Persistent Data
External Images and Sound
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