We've gotten tons of requests since we shipped TFS v1.0 from customers who want more flexibility with the configuration of the SharePoint server that TFS uses.  Some want to use a SharePoint web farm that they already have.  Others want to use a pre-existing web site.  And still others want to change the port # or not have a SharePoint site at all.

We've added all of these requirements for future versions of TFS, however TFS V1 does not support them.  In an effort to address one of the most common of these requests - using a separate or pre-existing SharePoint web server/farm, we have produced a technical article that describes how this can be done manually.

The instructions are neither simple nor short.  I really don't recommend doing it unless you are ready to pull your hair out for a day or two getting all of the configuration pieces in place.  The simplest way to think of it is that TFS V1 does not support it but future versions will.  However, some of you are brave souls, undaunted by challenging problems.  For you fearless few, this article should provide you the information you need to configure TFS and SharePoint.

Good luck :)

Brian