I'm posting this mostly to remind myself of where it is.  This came across on the internal VSTS discussion alias today.

Visual Studio Profiler has a standalone installation: look for vs_profiler.exe in the Visual Studio installation CD/DVD. Installing that package allows users to collect, analyze and report performance data from command line. The package does not include any GUI. It is light-weight installation, suitable for production or testing environments.

See the following article for more details on how to profile applications from command line:

http://msdn2.microsoft.com/en-us/teamsystem/aa718871.aspx

If you are just getting started with profiling in VSTS, you may want to check out Jeff Atwood's quick walkthrough of profiling from the GUI: Simple Profiling with Team Developer.

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