Welcome back to the "old school"
Are you using Visual Web Developer and finding yourself missing the "old school" project system for ASP.NET? IT'S BACK!!!! The Release Candidate (RC) is available. There are a plethora new features in this release. Take a trip over to Scott Guthrie's world to learn more.
UPDATE: If you didn't catch it, Scott has a really nice set of tutorials showin you how how to use the new (old sort of) Web Applicatin Project available at http://webproject.scottgu.com/Default.aspx. This includes how to migrate from VS 2003 to VS 2005.