Has anyone successfully implemented a custom preloader in Flex 4? In my experience, when I specify a custom preloader using the preloader="com.foo.MyPreloader" in the Application tag, the preloader does not display until the SWF is completely downloaded, defeating the purpose of the preloader! Perhaps this is a bug in the still-beta Flex 4 framework?
I feel dumb...I was referencing one of my main application classes from within the preloader, thus causing all of my classes to be compiled into the preloader, meaning it cannot display the preloader until everything is loaded.
For future reference: Double-check every reference in your preloader, make sure you use nothing more than what is absolutely necessary