I spent the weekend heads down in VS.NET 2005 (working on my contest entry). I had some second thoughts about my idea, but I've decided to push on anyway. I'm going see if some friends of mine will do some early testing for me before I burn too much more time on it. All I'll say about it now is that it's a stand-alone application that will help developers using SQL Server.
This has been my first real experience working in the new IDE and I have to say that I love it. It did take me awhile to get used to the enhanced Intellisense, but once I got past that, things were definitely better. I like how the editor shows changed/un-saved lines. I also like the guide lines when moving controls around on a WinForm.
I can't wait to get my hands on the final version, mainly so I can install it on my main dev system. I'm running the beta in a VM on my desktop machine, but I could only give it 512MB of RAM, so the performance isn't quite what I'd like it to be. I need to upgrade the RAM in that system (I just checked Crucial and a 1GB stick is $169.) since it only has 768MB.
I'm re-building another system that, if everything goes well, will run Virtual Server. If it turns out the performance is lacking, I'll make it my primary file server.