Visual Studio 2005 has the different architecture for PROJECTS and WEBSITES by design, there is no project file for WebApplication (Website). In the absence of the project file we were missing a lot of things, On my side as I was concerned with Release Process for our .Net Web Applications, While working with MSBuild We found the need of project file (.csproj/.vbproj) for different aspects.

Code Documentation is crucial one of them. Actually we have the option of enabling XML Documentation of .Net Code.

RightClick on Project-->Properties-->Build-->XML Documentation File

This is how we enable the code documentation for .Net Class Library project.

Actually we don't have the notion of any project file for the Web Application in VS 2005, Here Web Application Project provide the new feature to create aproject file for Web Applications also. After Installing WAP goto:-
File-->New-->Project-->ASP.Net WebApplication

WAP RC is going to be release, download will be available soon. In case you want the WAP from me, please feel free to email me.