I'm getting more and more questions regarding running Visual Studio 2005 on Vista.
Here's the summary from Microsoft:
"Visual Studio 2005 is supported on Windows Vista. We recommend that developers install
Visual Studio 2005 Service Pack 1 and the Visual Studio 2005 SP1 Update for Windows
Vista as they become available (SP1 end of this year, VS Update for Vista Q1 next
year). We also recommend that Visual Studio 2005 be run with elevated administrator
privileges. Visual Studio 2003 & 2002 are not supported on Windows Vista. The
underlying frameworks (.NET Fx 3.0, 2.0 & 1.1) are supported and applications
using them will run on Windows Vista."
(Update 14 Dec) Here are some more
You can read more on Soma's blog.
As for SQL Server 2005, I've heard that you won't have any problems installing the
Developer edition, but if you want to install Standard or Enterprise versions, you'll
need to install the CTP
of Beta 2. If you are wanting to use Reporting Services, remember that RS
uses IIS and IIS 7 + Vista are different. Here is a blog
post (in Spanish but the screens are pretty self-explanatory), instructing
on how to properly configure IIS on Vista for RS. Beyond that, there is guidance
in an older June article.