How about being able to target
Not exactly. You can't target any pre-2.0 framework with VS 2005/08/10. It's unfortunate, and is the reason our developers still have to keep a copy of VS 2002 around. There was a community attempt to write a MSBuild extension that could target fw 1.1, but I'm not sure what the status of it is.
The only possible interpretation of any research whatever in the `social sciences' is: some do, some don't. -- Ernest Rutherford