VS.NET 2003 and Whidbey on same box

I did attempt to install Whidbey on my laptop which had VS.NET 2003 ( Operating System Win 2003)
Installation had no problems but an attempt to open existing VS.NET 2003 applications gave following message
"Visual Studio has detected that ASP.NET aplications and services are locked down in IIS. You can run the IIS Security Lockdown Wizard to change lockdown status"

The solution I could think of was aspnet_regiis -i which didnt seem to work :(
Not thinking much on the error message i made a thoughtful decision of keeping VS.NET 2003 and whidbey on different boxes

Though recently I decided to try the same thing again

Not to my surprise I got the same messages when opening the projects developed using VS.NET 2003

This what i had read sometime back
i.e for running .NET Framework side by side one would need to do manual configuration as by default all IIS virtual webs get associated with the newest Framework version

All i could think again was of utility aspnet_regiis

So the steps I tried this time were

Step 1: Go to the folder C:\WINDOWS\Microsoft.NET\Framework\<latest version folder>

run aspnet_regiis.exe -u

Step 2: Go to the folder C:\WINDOWS\Microsoft.NET\Framework\v1.1.4322

run aspnet_regiis.exe -i

And this worked out just fine

So right now
VS.NET 2003 works without any problem
Whidbey too works without any issues
Has anyone come across issues having VS.NET 2003 and Whidbey on same box
Any views on the above or is what I tried correct?