I thought I'd post a solution to a debug issue I had today. I've had it before, and now I'll be able to google my blog for the solution.
When trying to debug a WinForms app, VS reports “The debugger is not properly installed. Run setup to install or repair the debugger.”'
This is pretty easy to fix. Close out VS, and open a command prompt.
Browse to %ProgramFiles%\Common Files\Microsoft Shared\VS7Debug
reregister each of the dll's (e.g. regsvr32 coloader.dll), and then run mdm and vs7jit with a /regserver switch (e.g. vs7jit /regserver).
Load up VS again, and it should be fixed.