I want your opinion on ways to integrate PS and Illustrator into Flash

There are several ways I have found to integrate graphics from Illustrator and PS into Flash but All of them have their set back and problems and I would like to know how you perfer…

One of the ways to integrate these programs is exporting your PS/Illustrator files as an SWF. THe problem with this is I know of know where to actually edit the exported file! I might be wrong but this feature seems almost useless.

The second way is importing your PS/Illustrator file by clicking “file” “import” in Flash. The problem with this is several of the effects like feathered edges just don’t show up… I have looked for solution but to no avale…

The 3rd way is just using the “Save for Web” feature in PS/Illustrator. The problem with this is you can’t have things like outer glows or drop shadows without really crummy quailty. Being that the only format you can save as with transparancy (for feathered edges or drop shadows) is a GIF format and we all know how bad the quality of GIFS can be. So what do you perfer and why. Do any of you know solution for the problems I have found? Thanks for letting me know what you think.