The Ajaxian reports that Adobe Apollo has graduated from Alpha and is now in beta with a fresh new name .... AIR (Apollo Integrated Runtime)
What makes Apollo, I mean AIR, such a promising product is that it allows web developers to enter the realm of desktop development. Well, it's not like web developers don't know a thing or two about desktop application development, as a matter of fact, I'm quite sure that many web developers, specially the older ones (cough!cough!), came from a desktop application development background.
AIR allows developers to leverage knowledge acquired during web development to develop desktop applications. It may not be exciting for the old timers but the new kids on the block that were born to, live with and breath the web have a cause to smile.
Just between you and me, Apollo is a way cooler name :-)