The clean install of Metaframe Presentation Server 4.0 and SQL Server 2005 went just fine. Took about 2 hours and there weren't any show-stoppers. Time will tell if MPS is stable with SQL 2005, but so far so good. We have a small user base that is actively using the system with the upgrade.
In other news, a nice lightning bolt fried my secondary TV, Playstation2 and wireless router. Guess I should invest in some more surge protectors. I had surge protecters on the important things like the computers and main TV.