Flash >> Vectorization
The Vectorization Package is a set of ActionScript 3.0 classes that allows the user to convert a raster image into a vector image.

Vectorization is a computationally intensive procedure typically reserved for programs running locally on the user's computer. The Vectorization Package is unique in that you can vectorize a raster image at runtime within the Flash Player. This is accomplished by spreading the workload out over time rather than attacking it all at once.

The Vectorization Package runs several routines to produce a vector image, including a despeckling process and an edge finding routine. The resulting vector image can vary depending on user-controlled parameters such as color threshold and curve smoothness.

To see it in action, choose an image and control the settings in the example, then click VECTORIZE!

The Vectorization Package is available for download under the MIT license. You can see the code and documentation on Google Code.