Last week I finally got around to poking around in Apollo, and I'm really excited about it. I went back today, and it's now called Air, and in Beta! Super Cool.
I'm going to use it to deploy a Flex application to desktop at my company. This particular application was originally "dreamed" to be everyone's desktop. Not ON everyone's desktop, but their actual desktop (the vision was that everyone would have it open all the time). Being able to have it on the desktop without a browser is going to be great for us. My users have also requested system tray notifications, so I'm looking forward to learning more about that with Air. I'll make updates as I figure it out :)