My Journey into using efflex

As I tried to introduce powerful animations to personal RIA project, I came across this project called Efflex. The demos showed a lot of potential. I was very impressed with some of the nice features to improve ViewStack selection (particularly the Flip3D and Cube3D demos). As my excitement drove me to use it, I found so many problems integrating to it, particularly with the following:

1. There were no SWC files to use (the 2 provided never worked). 
2. Building the source required FlexBuilder as well as to understand the project layout.
3. Some of the code was not committed, hence the compilation failed in so many ways.
4. There were dependencies that were not documented.

I took this as a personal challenge and I can happily report that I made it work. I'd like to describe what I had to do to make it happen in case others go through this problem (as I suspect it's the case based on some of the postings I read on the site).