ARE2D (animation render engine) is a compact 2D game engine based on GPU or Bitmap animations. It has classes for GPU animation sprites, Y sorting, textfields, collision tests (including mouse collision based on pixel tests) and it provides an API to abstract the complexity of textures when working with the GPU, so you can use BitmapData instead.

The GpuAnimationSprite class allows you to create GPU powered animation. You can also change the scaleGap property to adjust the animations speed. You can also use the addFrameScript() method that works just like its Flash-timeline related equivalent. In order to create the animation you can use a data parser, which provides methods like parserByMovieClip().

The GpuSpriteLayer is a powerful and pretty fast class, allowing you to render 1000 image at 40fps on the iPhone.