Flash Player 10 in Flex Builder 3.0.2

This is a good post which highlights the steps

 What we essentially gotta do
       a) Install sdk 3.2 & configure it
       b) Remove playerglobal.swc from the existing project build path libraries list and point to  Flash Player 10 playerglobal.swc file as a merged link.

      This file is is in C:\Program Files\Adobe\Flex Builder 3\sdks\3.2.0.3794\frameworks\libs\player\10