>I created a WinForm form from the out-of-the-box base form. How can I now re-define it to be based on a custom form clas my own class library that I want to build?
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>Where would I go to tell the form what it is based on?

In 2.0? You are going to have to click the "Show all Files" button and open the treemenu next to your form. There should be a vb.designer file (or something similar... don't have a winforms project handy).