Add haXe to your toolset
haXe is an amazing project. I've been looking at it recently as an option for producing swfs that potentially perform better than ones produced with similar code written in AS3. Even more interesting, however, is the ability to target more than one platform with the same code base. There are several target platforms but the one that captures my attention at this moment is the Javascript target and the fact that existing Haxe libraries such as Physaxe can be used with the HTML5 Canvas element.
The Physaxe library contains a custom type called JsCanvas that acts as a wrapper for the Canvas element and it's 2d drawing context. JsCanvas shares the same method names as the graphics property belonging to display objects in Actionscript. Compiler conditionals are then used in another class called FlashDraw to determine whether or not a member variable will be of type flash.display.Graphics or phx.JsCanvas.
It's worth checking out.