Visual Studio 2005 Web Application Projects Released!
Web Application Projects provide a companion web project model that can be used as an alternative to the built-in Web Site Project in Visual Studio 2005. This new model is ideal for web site developers who are converting a Visual Studio .Net 2003 web project to Visual Studio 2005. (Released May 8, 2006)
You can download it for free.
http://msdn.microsoft.com/asp.net/reference/infrastructure/wap/default.aspx
Prerequisites
l .NET Framework 2.0 is required for this download
l Microsoft Visual Studio 2005 – Update to Support Web Application Projects
VS 2005 Web Application Project tutorial:
http://weblogs.asp.net/scottgu/archive/2006/04/05/442032.aspx