Incredible, for lack of a better word.
I can't understand why some in the developer community are so negative about new changes to Web Projects coming in Visual Studio 2005. Juding from the posts, people seem to be either "nervous" about migrating, "scared" that their apps will break, or "pissed off" about having to update existing code written in 1.1 to work with 2.0.
If you are nervous about migrating the new framework, don't migrate. No one is being forced to migrate their applications to the new version, and Version 1.1 of the Framework will still be supported for a good long while. If you find that you absolutely have to migrate, take it as an opportunity to improve your app by rearchitecting or refactoring your existing code base.
If you are scared, I suggest that you lock your doors, get a dog, whatever it takes to protect yourself from the big bad Microsoft behemoth. If you are scared of new technology then you might be in for a rough ride.
If you are pissed off because Microsft moved your cheese, then you need to take a deep breath, step back, and ask yourself what they are trying to do. In the end VS 2005 and .NET 2.0 will make your life as a developer more productive, just like previous versions. You might want to give them the benefit of the doubt before flaming them.
I've worked a bit with Beta 2, and can't believe how good it is. Warts and all, the bottom line is that the Framework and tools keep getting better by leaps and bounds ... obviously there are breaking changes, but that should be expected when the major version of any software changes.
Personally, I can't wait to go live. And I'm not getting a dog.