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 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.