We used realistic Al-Co pair potentials ͓R. Phillips, J. Zou, A. E. Carlsson, and M. Widom, Phys. Rev. B 49, 9322 ͑1994͒; J. A. Moriarity and M. Widom, ibid. 56, 7905 ͑1997͔͒ to study the atomic dynamics of Al 1Ϫx TM x crystalline structures with the fractional content x of the transition metal ͑TM͒ atom xՇ0.3. Our list comprises rather simple structures of Al 3 Ni and Al 5 Co 2 alloys, complex structures related to the decagonal quasicrystal (Al 9 Co 2 Ni, O-Al 13 Co 4 ), and a model of the crystalline approximant of the decagonal quasicrystal d-AlNiCo. Within the harmonic approximation, we assess the impact of the structural complexity on the phonon density of states, sound velocity, Debye-Waller factor, and the character of the phonon states at low energies. In complex structures related to the decagonal quasicrystal, a significant fraction of low-energy vibrations have nonacoustic, strongly localized character. In a molecular-dynamics annealing of the decagonal approximant model performed at elevated temperature, a fraction of aluminum atoms display signs of diffusive motion, while the equilibrium positions of the cobalt atoms do not change.