http://savagelook.com/demos/reflect_camera2/reflect_camera.html
Here's a sneak peak at a way better version of reflection in away3d than the last thing I posted. Its far from perfect and still has some shortcomings I'm working past, but I think at least a few people will like it. The code isn't ready for prime time yet and there's a lot I still need to do, but I thought I would get some early feedback from the community. Please take a gander and let me know what you think.
