there are industry tools available for this purpose like MDM
Zinc, NorthCode Inc.'s SWF Studio, Screentimes' mProjector and many
These are also called swf 2 exe softwares, projector wrappers
I only know about Zinc and mProjector to have released
versions compatible with Flash CS3 and AS 3.0. But, both are still
in beta versions.
Director too can be used as a powerful wrapper for swf files,
but unfortunately it too doesnt support Flash CS3 and AS3.0 as of
so if you are to support AS2 and Flash 8
you are welcome to use these above tools.
also note that tools which support FLASH 9 or CS3 files may
not necessarily support AS3.0 which is a part of Flash9 too.
This only means that they support only the content created in
Flash9, so its possible to use flash 9 files with AS2 with these