ASP.NET User Controls (those files with the .ascx extensions) provide a really easy way to encapsulate functionality within an application, and allow it to be re-used across multiple pages and projects (note: for a tutorial on how to create re-usable user control libraries with the VS 2005 Web Application Project check out the C# one here, and the VB one here).
Most developers who create user-controls know that it is possible to easily expose public properties from them so that you can customize them from a page that is using them. This allows a page developer to declare properties like so on the user-control tag (as well as access them from the code-behind):
<MyLibrary:MyUserControl id="UC1" someproperty="somevalue" runat="server"/>
What is less well known is that in addition to exposing standard properties from user controls, you can also expose template properties. This allows a page developer to pass templates to the user control like so:
<MyLibrary:MyUserControl id="UC1" someproperty="somevalue" runat="server">
Some custom content I want rendered in the title...
Here is a calendar: <asp:calendar id="cal1" runat="server" />
This allows you to provide much richer UI customization and further re-use.
Robert Seder has posted a nice blog post here that describes how to-do this.
Update: Kris also pointed me at some MSDN documentation that shows the syntax to support this with VB. You can read it here.
Hope this helps,