I’ve updated my path class to ActionScript 2 (and an ActionScript 3 version is available as well).
The Path class saves a collection of line drawing commands to represent a path. Using the path class you can draw all of or a segment of that path in a movie clip or get locations and orientations along the path to have objects follow it.
Note: People using Flash MX 2004 will have to use a custom flash.geom.Point class; one has been provided with the download. Just rename the flash_ifUsingFlash7 folder to flash in the AS2 directory.
Simple example drawing the word “fun” provided (uses two lines drawing out segments of the word with a trangle shape following its path).