Not all frameworks are installed on the machine at the same time. 1.0 and 1.1 and 2.0 are all separate and can be installed independently. 3.0 and 3.5 both build upon 2.0 (3.0 on 2.0, 3.5 on 3.0), so they will be installed together.
the reason they are each installed is that they are additive (in the case of 3.0 and 3.5) so that you don't have to lay down a complete version of the framework each time.
Yes, we will put some of those together, once we have some time to catch our breath. We will probably do that with some of the Orcas Beta 2 (sorry, VS 2008) stuff that just dropped, as we have a nice set of labs and other content for that.
Any other suggestions, let us know, we're listening!