Have anyone on this thread EVER had a look at the s:Application object
attribute*frameRate*?
I did, and my apps are running at 60 but I didn't noticed great improvements.

I think that performance and fps are only part of the problem.
On low end devices (but also iPad2 or iPad mini) the available memory is limitated, and excessive ram consumption is a real issue. Did you test your application performance on a real device? I use Instruments (an Xcode tool), and a blank Flex app with retina support requires at least 60MB RAM (with peaks of 80MB while changing view).

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