3D models in flash

This is probably the coolest thing I've done to date.
The shark was modeled by my friend Sean McDonald in Maya. http://www.vimeo.com/3057750

He simply exported it to a dae file which I dynamically load into papervision, and then I throw an envMap to it with a PointLight3D object.
The envMap is just a jpg texture and the PointLight3D makes the texture reflect light! It's really cool and really really simple to do!
The water/wave effect is just the perlinNoise effect seen in my previous water demos.
Here's some papervision code to wet your appetite!

//gives us a nice particle field of bubbles
var pm:ParticleMaterial = new ParticleMaterial(0x00CCFF,.3,
var pf:ParticleField = new ParticleField(pm,500,10,2000,2000,2000);

//creates the new point light
var light:PointLight3D = new PointLight3D(true, false);

//creates a new EnvMapMaterial to add to our shark, the bmap.bitmapData is bitmapData from a the jpg texture that I loaded dynamically
var envMap:EnvMapMaterial = new EnvMapMaterial(light, bmap.bitmapData, bmap.bitmapData);

//load the dae file
dae = new DAE();
dae.load("3dmodel.dae", new MaterialsList( { all:envMap } ));

//add it to the scene!
scene.addChild(dae);