May 8th Update: The final release of the VS 2005 Web Application Project is now live. You can learn more about it here.
A couple of setup notes to install it:
1) First shutdown all running instances of Visual Studio before installing it
2) If you have the previous December preview of the VS 2005 Web Application Project installed, you should uninstall this before installing the new build
3) Download and run setup on the build above, then launch VS 2005. You can then do File->New Project to create a new ASP.NET Web Application Project.
I have updated the existing tutorials on http://webproject.scottgu.com for the new build. I will be adding one more tutorial this weekend which shows how to convert an existing VS 2005 Web Site Project to be a VS 2005 Web Application Project should you choose to-do so.
Hope this helps,
P.S. I've been asked a few questions about the future of the VS 2005 Web Application Project option a few times by people in the last week. A few things to clarrify:
1) We will fully support both the VS 2005 Web Site Project Model and VS 2005 Web Application Project Model going forward. Developers can choose whichever model works best for them (we will be providing whitepapers that detail the models more and help list the pros/cons of each model).
2) Both the VS 2005 Web Site Project Model and VS 2005 Web Application Project Model will be built-in and fully supported in future releases of Visual Studio.
3) We are looking to add the VS 2005 Web Application Project model option into the VS 2005 SP1 download -- the reason we are shipping it on the web this spring is so that people can use it before then. The build above is still a preview build (that is not feature-complete). Our plan is to finish the features next month, and then make it a supported release this spring (even before SP1).