At the Ottawa FlashCamp last night I was talking with my friend Stacy Young and both of us noted how we always find that looking at code we wrote 2-3 years ago is always bad. Well, the code obviously works, but we hate the way we actually went about writing the code to accomplish something or to solve a particular problem.
The way I see it, this is a good thing, it means that as developers we are growing. We are learning from our various experiences and finding better ways to write applications. It means we are researching how others do things and applying new techniques to Flex development. For me it primarily mean looking into how to better unit test my ActionScript code thus making my applications as robust as possible by using some of what I read on Paul William's blog (Adobe Consulting).
So if you ever see some old code and think its the best thing you have ever written...start asking yourself some questions :)