One of things mentioned on the Wiki is that there's currently no binary distribution available. "No binary distributions are available. Perhaps someone will volunteer to set up automated builds and a build download page?"
What exactly would such a binary distribution be? Would it be the files of Falcon which could be merged with the Apache Flex SDK, to use Falcon instead of the current ActionScript compiler? How useful would Falcon be without the SDK integration - maybe for projects utilizing the ActionScript parsing features of Falcon, without generating an SWF? That's not the main interested of the Apache Flex project, but Falcon could be used in IDEs like Netbeans or IntelliJ for ActionScript editors, right? - Raju