I just watched this video of a really great product by a VSIP partner GamCom called Talmia. It is a fascinating product, that really enhanced VSTS set of products. Here is a short description:

Talmia is an innovative ALM process automation and reporting tool for Team Foundation Server. It uses Windows Workflow to automate and control work item creation, validations, email alerts, and more.

More can be found on this blog post or on Talmia web site.