AIR definately has potential, but despite it's "1.5" tag is most definately still beta as far as desktop application development frameworks go.
Take for example this bug, which I reported long long ago:
Why has nothing been done?
Selecting a "package" file from the file browser dialogue is a fundamental feature of OSX, but AIR doesn't support it and Adobe obviously has little interest in supporting it. I find this unbelieveable.