Johann Deneux and Giuseppe Maggiore have been putting together templates for F# games, libraries and applications for Windows Phone 7 (WP7) XNA. This extends Dan Mohl's great work on templates for list, panorama and vanilla applications.
Like all other templates on Visual Studio Gallery, these are ALL available via online templates from Visual Studio 2010 - you don't need to install anything (except the basic tools for phone development). It's this simple this (made nice and big because I'm always surprised how many people don't know how easy this is :-) )
"New Project" --> "Online Templates" --> "Search for fsharp"
Here's Joh's description of the latest templates.