A few weeks ago I had some freelance work to do. I ended up writing a mini framework for microsites that enables me to quickly delve into designing instead of coding.
It provides a UI Component base class that can dispatch standard flash events as well as custom application-wide events. The UI Component is loosely coupled the model.
Basically the document class extends Application and each display object extends component. This way the model data caching and view updating is already solved..
For more info check out my google code page.
http://code.google.com/p/subumbomicro/