Hi, I've put together a tutorial on how to create .swc components in Flex 2 using the Flex Library Project type at http://www.oastler.ca/index.php/flex/20061116_encapsulating-components-libraries-swcs/
For those on the learning curve of discovering Flex 2, fear not...There are others out there who have shared in your struggles and are trying to share our knowledge. If you have resources / ideas to share, make sure to post them. All of my flex related blog learnings can be found at http://www.oastler.ca/index.php/category/flex/ Cheers, Jamie