It's also good to add code to lower the quality based on average FPS. if your framerate is lower than 25, stage.quality = StageQuality.LOW; otherwise do medium or high for example. This helps the FPS catch up if processing gets behind. Also, make sure to set your build to --target-player=10 if you can.
Also, the final version you can 'export release build' which is faster than the debug version. Avoid calling view.render() unless something has changed on the screen, such as camera position, model rotation, etc. All in all, try to avoid mesh transformations as much as possible, use low polygon models, and you should be good. Just following these steps I was able to keep my framerate pegged at 100 with good quality.
