Here’s just a life saving tip for all you SharePoint developers, thinking about integrating with Dynamics CRM 2011 through BCS.
The new CRM SDK is built with .NET Framework 4.0! SharePoint 2010 runs in 3.5! So you cannot use the new CRM 2011 SDK if you would like to create an External Content Type.
I do have some good new for you though. Stick to the CRM 4.0 SDK. As CRM 2011 is backward compatible, your code will run just fine when you use the “old” SDK to connect to the “new” CRM.