(remember to post your vSphere Web Client plugin questions on this other forum dedicated to that platform:
If you are doing serious plugin development I recommend to get the Flash Builder license (or try a few days without it to see the difference). As the SDK Setup doc puts it:
"Adobe Flash Builder is not required for compiling Flex code (the Flex compiler is included in the Flex SDK, see how it is used by the Ant scripts provided with the SDK samples), but you should install it to take advantage of the debugger and have a better development experience within Eclipse."
The project creation wizard is an Eclipse plugin which doesn't rely on Flash Builder.
Thanks! Thought I posted there, but should save vspherewebsdk forum in my book mark list