The Team System Process Template Editor is a tool I kicked-off that helped with the creation and maintenance of Team System Process Template definitions as well as work item defintions.
Check out this article by Nigel Cheshire - quoting both Sam Guckenheimer and Joel Spolsky about whether or not measuring developer performance is a good thing or not. Both Sam and Joel say to stay clear away from doing this. Where do you stand? Personally, I say that we need to "professionalize" our industry a bit more before we can be effective at doing this. Tools like Team System make instrumentation of developers a lot easier, however I don't think we can clearly understand the inter-relationship of metrics on individual developers well enough yet. Nigel compares Sales people to Developers in this respect - asking why we can ask Sales people to hit metrics and not ask Developers to do the same.