Michael,
A vote for an unsuccessful candidate is not wasted. It's just a vote for an unsuccessful candidate. By the same logic, a vote for an unsuccessful candidate is still 'wasted' under AV if it is not transferred to the voter's 2nd, 3rd or 38th preference, thereby resulting in them winning.

Similarly, tactical voting is not eliminated under AV. This is yet another lie propagated by the AV campaign. I know personally because I voted tactically in the Labour leadership election. It will be changed, but it won't be eliminated. Read the paper by Roger Mortimore of IPSOS MORI.

Oh, and if you don't like those fraudulent leaflets, don't vote for a system that is designed to favour the party that produces them.

AV is neither fair nor transparent. It is a terrible system. FPTP has its faults, but AV is a partisan fraud.