This is why I usually don't start posting until I'm caught up on my blog reading. I just posted tonight about one of the problems with the new project-less web projects in VS.NET 2005 - you can't easily manage updates to binary references (or, for that matter, references to other projects in the same solution).
Well, I just read a post from Paul Wilson stating that this has been fixed in post-beta 2. Now, when you add references, you'll get a "refresh" file, which will give VS.NET a list of references to refresh on compile. I guess that's something!