The simplicity of creating a custom cursor within Flash is a task that will surely be used time after time again.  Well, as for creating a custom cursor using AS3, the syntax used is identical as written in AS2.

Create a Custom Cursor

You can easily create a custom cursor just as would in AS2.  The syntax goes as so:

[sourcecode language='JavaScript']
//Hide mouse
Mouse.hide();
//Replace hidden mouse with cursor mc
customCursor.startDrag(true);
[/sourcecode]

Download the example .fla

Preview the example

I hope this helps in your migration over into  AS3.  If there is something in particular you want to add or see with the Moving From AS2 to AS3 series, feel free to contact me via the contact page.