Last June, Dynamics AX 2009 was released with an out of the box connector to Project Server 2007. If you are interested in learning more about the integration between the two products check the following documentation: Microsoft Dynamics AX 2009 Client Help Files specifically AxInfoWk.chm, and search for “Project Server”:
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From our analysts site : Magic Quadrant for Midmarket and Tier 2-Oriented ERP for Product-Centric Companies