I previously wouldn't have even thought of developing my own DataGrid component from scratch but with OpenFlux's help it's super easy (Or at least easy enough to want to attempt it). Over the last couple days I've spent my spare time developing an extremely flexible DataGrid component and if you view source, compared to the standard Flex DataGrid, you'll see there isn't a lot of code behind it.
The component is actually a grouping of multiple sub components including DataGridColumn, DataGridHeader, DataGridRow, DataGridCell which all extend either List or ListItem giving instant selection and drag/drop functionality. You can easily hook up your own custom controllers and views to add any functionality you desire.
Be sure to play around with the example below and view source to see how it all works. My only note is I'm having some SVN issues so this isn't yet committed to the OpenFlux project.