Todd Rein and Joe Berkovitz have created an amazing Flex component for managing the URL within a Flex application. URLKit 0.5 allows you to persist data in the URL allowing for stateful urls. It is worth checking out in this demo.
URLKit Demo
URLKit Demo with Deep Linking
URLKIT HOME
The idea is that you can store data in the URL and persist that data into the state of a Flex application. It is a great addition to the toolset of Flex and you cannot beat its price, Free.
Thanks Todd and Joe, Great Work!
Cheers,
Ted :)
DIGG IT! 
Perfect!
Major kudos to Todd Rein and Joe Berkovitz.
This is exactly what we need at this early stages of Flex2 dev
Good to see this idea working! I started doing the same thing a while back but ran into problems with IE and gave up.
Once Safari is working this will add some killer functionality to Flex apps!!
Thanks for sharing this with the community. Can't wait for the next version!