compression settings

I have about 10 flash files and would like to know the best way to combine them
into one avi file.

Will I lose more quality if I:

convert all 10 files to .swf
import all .swf to one flash file
export to avi

or I:

export all to avi
import all .avi to one flash file
export to avi?

Also, do I lose more quality with .swf or .avi?

Thanks.