The embedded console will be shipped as part of AS 5.1.0.CR1. jbas5-admin-console.war deploys and the server starts but the console is unusable as the profile service is not available:

15:00:22,553 ERROR [ProfileServiceFactory] Exception thrown when looking up ProfileService on JBoss AS 5
[15:00:22.554][info][talledLocalContainer] javax.naming.NameNotFoundException: ProfileService not bound
[15:00:22.554][info][talledLocalContainer] at org.jnp.server.NamingServer.getBinding(NamingServer.java:771)
[15:00:22.554][info][talledLocalContainer] at org.jnp.server.NamingServer.getBinding(NamingServer.java:779)
[15:00:22.554][info][talledLocalContainer] at org.jnp.server.NamingServer.getObject(NamingServer.java:785)
[15:00:22.554][info][talledLocalContainer] at org.jnp.server.NamingServer.lookup(NamingServer.java:443)
[15:00:22.554][info][talledLocalContainer] at org.jnp.interfaces.NamingContext.lookup(NamingContext.java:722)
[15:00:22.554][info][talledLocalContainer] at org.jnp.interfaces.NamingContext.lookup(NamingContext.java:682)
[15:00:22.554][info][talledLocalContainer] at javax.naming.InitialContext.lookup(InitialContext.java:392)
[15:00:22.554][info][talledLocalContainer] at org.rhq.plugins.jbossas5.factory.ProfileServiceFactory.getProfileService(ProfileServiceFactory.java:79)
[15:00:22.555][info][talledLocalContainer] at org.rhq.plugins.jbossas5.ApplicationServerDiscoveryComponent.discoverResources(ApplicationServerDiscoveryComponent.java:62)
[15:00:22.555][info][talledLocalContainer] at sun.reflect.GeneratedMethodAccessor285.invoke(Unknown Source)
[15:00:22.555][info][talledLocalContainer] at sun.reflect.DelegatingMethodAccessorImpl.invoke(DelegatingMethodAccessorImpl.java:25)
[15:00:22.555][info][talledLocalContainer] at java.lang.reflect.Method.invoke(Method.java:597)
[15:00:22.555][info][talledLocalContainer] at org.rhq.core.pc.util.DiscoveryComponentProxyFactory$ComponentInvocationThread.call(DiscoveryComponentProxyFactory.java:244)
[15:00:22.555][info][talledLocalContainer] at java.util.concurrent.FutureTask$Sync.innerRun(FutureTask.java:303)
[15:00:22.555][info][talledLocalContainer] at java.util.concurrent.FutureTask.run(FutureTask.java:138)
[15:00:22.555][info][talledLocalContainer] at java.util.concurrent.ThreadPoolExecutor$Worker.runTask(ThreadPoolExecutor.java:885)
[15:00:22.555][info][talledLocalContainer] at java.util.concurrent.ThreadPoolExecutor$Worker.run(ThreadPoolExecutor.java:907)
[15:00:22.555][info][talledLocalContainer] at java.lang.Thread.run(Thread.java:619)
[15:00:22.561][info][talledLocalContainer] 15:00:22,560 WARN [InventoryManager] Failure during discovery for [JBossAS Server] Resources - failed after 26 ms.