Since this is just a preview release, there are some obvious things missing still. The vector graphic drawing tools are limited to rectangles and rounded rectangle shapes at this point. Color fills are only solid – no gradients or patterns yet. I expect to see those added soon. There is also no ActionScript – but I am not sure that will be a feature of Edge. I believe Edge is primarily for creating simple animations not game development or other interactive experiences. No video or sound import either – Flash will still be needed for those things, I imagine.
However, for simple ads or transitions Edge is a nice easy tool. Looking forward to the actual launch of this great new product from Adobe.