I forgot to post back here about the iOS tests.
We tested Starling/Starling punk on a 4th gen iTouch and the performance was terrible. It seems only the most recent devices can run it at a decent frame rate.
We decided to use Monkey which translates "monkey-code" to a target's native language, which gives us the speed we want since we aren't dealing with JIT compilation of Adobe Air. I'm currently porting FlashPunk over and will definitely post a link on the forums once its all in working order! From our early tests, we had 100 Entities on screen with parallax backgrounds running at a solid 60fps.