This is the code & presentation from the What's New in FDT4 Meeting from the Hawaii Flash User Group Meeting for October 29,2010 with Michael Plank. 

To learn more about the meeting, and to find additional resources, please check the Hawaii Flash User group site calendar "What;s New in FDT4":
http://hawaiiflash.groups.adobe.com/index.cfm?event=post.display&postid=31230

Meeting went over the new features in FDT4
Making Things Easier
Completely new SDK management and project setup makes it simple to switch Flex SDKs, or change the project type easily.

Profiler
New Profiler will help you find memory leaks more quickly and optimize the performance of your Flash/Flex projects.

Project Templates
Choose from a list of available project templates in the “New Project Wizard” or easily create your own using a simple XML format.

Launcher Chain
Chain multiple launch configurations in any desired order to setup complex build processes fast and easy and adapt FDT to your project team work-flow.

Additional Flex Support
Flex support was improved dramatically, it includes FXG, Flex 4 States and the new MXML 2009 language tags now. Also added Flex 4 support for the Debugger, Organize Imports, Quickfixes, Formatter and Toggle Comment in MXML.

Dependency Visualizer
View the dependencies between Classes and Interfaces or between packages visually to detect design or dependency problems at a glance.

Font Library Creator
Create font library SWF, Actionscript or SWC files with just a few clicks by using the new Font Library Editor.

Advanced Formatter
More options in the AS3/MXML Formatter settings to configure your preferred code style or follow your team code guidelines.

Faster Compiler
Full and incremental build times have decreased tremendously while memory consumption was dramatically reduced, this is especially noticeable in bigger projects with multiple modules.