The other day I needed to import a long list of Areas into my client's TFS server. I had the list in Excel, but I did not want to enter them manually. I searched around the web (using Live Search, thank you) and found a tool from fellow MVP Neno Loje that can be used to import and export Areas and Iterations.
If you need to move Areas between team projects or foundation servers, this tool can save you some time. Check it out when you get a chance!
Happy Coding!