Are we going to be able to work with VS2003 projects without converting them at a later date or was the line about "Did you know you can write VS2003/2005 applications in Orcas?" just a mistake? 

VS2005 and Orcas are much better tools, but my company has some large projects that were started before 2.0 shipped and moving them to 2.0 isn't feasable.  I was really excited when I saw that Orcas was supposed to be able to compile to 1.1 apps, but my  bubble was burst after installing the beta.  (Which only finally showed up on my subscriber downloads last night)

Please let us know if compiling to 1.1 will be an option.  I am sure I am not alone on this.