One of the great gripes with VS2005, particularly felt by the guys here was the change from the old web application project to the new "web site" model under 2005. This caused no end of frustration particularly around source control and binaries.. ick.
So great news today from ScottGu with the final release of the Web Application project for VS2005. Good to see a lost feature come back in for good!
Some of the obvious benefits:
Grab it here and start enjoying:
http://weblogs.asp.net/scottgu/archive/2006/05/08/445742.aspx