Some good news for many no doubt:
http://weblogs.asp.net/scottgu/archive/2005/12/07/432630.aspx
This will make migration from 1.1 sites much easier, and will give the option of having a single assembly in the bin folder again.
Ian
http://blogs.msdn.com/johnri/archive/2005/11/29/498219.aspx
John Rivard, a Microsoft developer on Visual Studio explains the background to this current issue, and gives some guidance to objectives for the future.
Interesting read...