Thanks for the replies!
I live in New Jersey, but it did state that California recognizes it a cancer causing agent.
I'm wondering if the stuff I have is correct. This is what I bought (scroll down to 112AF)-->
http://www.karnakcorp.com/pro_dp.html
This stuff is black and sticky and has a strong chemical smell. The container says to apply it with a roller or brush. The NOFMA guide says to apply the "cutback adhesive" with a trowel. I can't see how this can be applied with a trowel.
Since time is running out and I need to get this done ASAP, I already started (last night) to lay the felt without the mastic (I reasoned that it is not worth the risk of exposing my one year old daughter to these chemicals). I am installing at grade (bottom floor of bi-level home) and am thinking the two layers of roofing felt (taped at the seems and under the plywood) and the layer of polythylene above the plywood would be enough to protect against any moisture. I hope I am not creating a disaster for myself. Has anyone ever seen the following approach done with success?
1. lay roofing felt (overlapping 4" - 6"). Have it go under the walls and tape it to the baseboard area. Tape all seams down the middle.
2. lay another layer of roofing felt. This time just tape the seams and not tape all of the baseboard areas.
3. lay the plywood (I already bought the plywood - I agree that powder nails may not be the best way to go. I'll use a combination of tapcons and powder nails or maybe all tapcons).
4. lay 6 mil polythylene over the plywood.
5. nail the planks into the plywood.
Basically, it is a mastic-free procedure (mainly because I have some concerns about the chemical, but more because I already started to lay the felt without it). I'll be doing this today and hope someone will stop me if I am truly making a serious mistake. If I picked up the wrong mastic, I'll consider pulling up the felt and laying the right stuff. If someone can assure me that I will be OK with the procedure above, that would give me peace of mind as I continue with the job.
Thanks to all who responded. Any other quick responses would be greatly appreciated.
PS - Yes, I am doing this on christmas eve and christmas day!!