My current setup is as follows:
I'm building the simple hello world example, as seen here but the components are appearing extremely small (see image below).
I have also checked out the FAQ which describes the issue, but I can't seem to get the fix to work (as I'm not working within the AIR environment, I just want to publish to standard ol' SWF). See the second last question/answer here
I found this somewhat hidden gem (by going through some examples):
DeviceCapabilities.dpi = 90*3;
This does the job - I have no idea why the right value seems to be my screen DPI multiplied by 3, but it's spot on .