The .NET Compact Framework 3.5 Power Toys have been released.  You can download them from here.

Tools included in this package:
Remote Performance Monitor and GC Heap Viewer – Provides real time counter data (ranging from Garbage Collector activity to type loading info) on a running NETCF application. The GC Heap Viewer feature allows you to capture the managed heap at any moment your app is running to view live references, and allows you to compare multiple snapshots to find memory leak issues.
NETCF CLR Profiler – CLR Profiler is an instrumenting allocation profiler for NETCF applications. It provides detailed allocation visualizations, allocation callstacks visualizations and useful for diagnosing memory management issues.
App Configuration Tool (NetCFcfg.exe) - On-device tool for specifying what version of the NETCF runtime an application will run against, displaying installed versions of NETCF and displaying info about DLLs in the GAC.
NETCF ServiceModel Metadata Tool – The .NET Compact Framework ServiceModel Metadata Tool (netcfsvcutil.exe) allows you to generate a Windows Communication Foundation (WCF) client proxy to help developers consume WCF services on device. Like svcutil.exe, which is the desktop version of the utility, netcfsvcutil.exe is a command-line tool that generates service model code from metadata documents and generates metadata documents from service model code.
Remote Logging Configuration Tool – The Logging Configuration Tool enables users to easily configure logging options on a NETCF device including: loader, interop, network, error and finalizer logs.
NETCF Network Log Viewer – A utility for viewing NETCF network log data.