New Release Arduino 1.0 for Visual Studio. The latest version is compatible with the new Arduino 1.0 IDE and also with earier Arduino versions. The version also contains a number of useful updates including, for example, enhanced serial tools.
I'm not sure how useful the debug is for arduino chips because the correct fuses are not set on the arduino programming port. Avr studio isn't aware of arduino libraries or boards so there will be a lot of hunting for information and config for each project. Compile of arduino sketches that contain multiple .pde files isn't straight forward and avr studio will not cater for this.
If anyone would like to extend avr studio 5 to include arduino functionality then you can use the api from the visual micro system. Please contact info[at]visualmicro.com is you would like to create an arduino avr studio 5 extension
1) The addin also provides a useful feature for people who develop arduino libraries and /or board cores. The "Project" menu has an option called "Show All Arduino Files". The option toggles all c/cpp/h sources of active libraries and core in/out of the Visual Studio Solution/Project Explorer.
This allows these normally hidden sources to be available inside the object browser and to be viewed/edited/navigated.
2) The Arduino compiler in Visual Studio is optimized using source file date/time stamps. This makes the Visual Studio compile much faster than using the Arduino IDE.
Very useful for large projects and works well with point 1) above, ensuring a fast intelligent compilation of just the sources that have been modified.