Two items:

First, on a 64 bit XP box, the Wizard Framework dlls can get lost and not in the GAC after the SDK for vista is installed. The following link
http://www.codeplex.com/DocProject/Thread/View.aspx?ThreadId=9037 will walk someone through the solution.

Second, when starting up my first Powershell project, the designer for the PSSnapin.cs had the following complaint:

    The designer must create an instance of type 'System.Management.Automation.PSSnapIn' but it cannot because the type is declared as abstract.

Hope this is useful.