import flash.display.*;

function loadBitmapSmoothed(url:String, target:MovieClip) {
	// Create a movie clip which will contain our unsmoothed bitmap
	var bmc:MovieClip = target.createEmptyMovieClip("bmc",target.getNextHighestDepth());

	// Create a listener which will notify us when the bitmap loaded successfully
	var listener:Object = new Object();
	// Track the target
	listener.tmc = target;
	
	// If the bitmap loaded successfully we redraw the movie into
	// a BitmapData object and then attach that BitmapData to the target
	// movie clip with the smoothing flag turned on.
	listener.onLoadInit = function(mc:MovieClip) {
		var mc:MovieClip = mc;
		mc._visible = false;
//		mc.forceSmoothing
		var bitmap:BitmapData = new BitmapData(mc._width, mc._height, true);
		this.tmc.attachBitmap(bitmap, this.tmc.getNextHighestDepth(),"auto", true);
		bitmap.draw(mc);
	};
	
	// Do it, load the bitmap now
	var loader:MovieClipLoader = new MovieClipLoader();
	loader.addListener(listener);
	loader.loadClip(url, bmc);
}

// Sample code

createEmptyMovieClip("mc1", getNextHighestDepth());
mc1.createEmptyMovieClip("mc", mc1.getNextHighestDepth());

//mc1.mc.loadMovie("flash.png");
loadBitmapSmoothed("http://digitallibrary.usc.edu/assetserver/controller/rendition/VIT-001470/page-1", mc1.mc);

mc1.onEnterFrame = function() {
	// Ugly, but we are not using a MovieClipLoader for the unsmoothed case
	mc1.mc._x = -150;
	mc1.mc._y = -230;
	mc1._x = Stage.width / 2;
	mc1._y = Stage.height / 2;
	mc1._rotation += 0.5;
}

import flash.display.*;

function loadBitmapSmoothed(url:String, target:MovieClip) {
	// Create a movie clip which will contain our unsmoothed bitmap
	var bmc:MovieClip = target.createEmptyMovieClip("bmc",target.getNextHighestDepth());

	// Create a listener which will notify us when the bitmap loaded successfully
	var listener:Object = new Object();
	// Track the target
	listener.tmc = target;
	
	// If the bitmap loaded successfully we redraw the movie into
	// a BitmapData object and then attach that BitmapData to the target
	// movie clip with the smoothing flag turned on.
	listener.onLoadInit = function(mc:MovieClip) {
		var mc:MovieClip = mc;
		mc._visible = false;
//		mc.forceSmoothing
		var bitmap:BitmapData = new BitmapData(mc._width, mc._height, true);
		this.tmc.attachBitmap(bitmap, this.tmc.getNextHighestDepth(),"auto", true);
		bitmap.draw(mc);
	};
	
	// Do it, load the bitmap now
	var loader:MovieClipLoader = new MovieClipLoader();
	loader.addListener(listener);
	loader.loadClip(url, bmc);
}

// Sample code

createEmptyMovieClip("mc1", getNextHighestDepth());
mc1.createEmptyMovieClip("mc", mc1.getNextHighestDepth());

//mc1.mc.loadMovie("flash.png");
loadBitmapSmoothed("http://digarc.usc.edu/assetserver/controller/rendition/VIT-001470/page-1", mc1.mc);

mc1.onEnterFrame = function() {
	// Ugly, but we are not using a MovieClipLoader for the unsmoothed case
	mc1.mc._x = -150;
	mc1.mc._y = -230;
	mc1._x = Stage.width / 2;
	mc1._y = Stage.height / 2;
	mc1._rotation += 0.5;
}

This is a test to show that when you smooth Bitmaps, you can rotate them beautifully.

AS2: Bitmap Smoother

ActionScript