Hi Jeff, yes the option is supposed to be there like Solidworks 2007, but in 2008 when you right click on part or sub-assembly you don't have the properties "button".
That's right...it's there but not where it was. In the "head's up" box, there's an icon that looks like a hand pointing at a piece of paper, that's your component properties button. And, I just checked, solve as flexible is still there.