In case you hadn't noticed, there is a Beta of SP1 for Visual Studio 2008 and .NET Framework 3.5 out there. You should really check it out, it has tons of goodies, especially if you need some performance boosts in your WPF applications.
In this blog, I want to highlight a little hack that Microsoft added to the designer. In some instances, with complex nested Web Application Project solutions, the 2008 designer can not locate the master page. This used to be the case in 2005 designer too, but it would just show an error message for the master ...