Are you using Visual Web Developer and finding yourself missing the "old school" project system for ASP.NET? IT'S BACK!!!! The Release Candidate (RC) is available. There are a plethora new features in this release. Take a trip over to Scott Guthrie's world to learn more.
UPDATE: If you didn't catch it, Scott has a really nice set of tutorials showin you how how to use the new (old sort of) Web Applicatin Project available at http://webproject.scottgu.com/Default.aspx. This includes how to migrate from VS 2003 to VS 2005.