Yes, you can install both of them. If you open a VS05 solution in VS08, it will convert the solution file and you can no longer open it in VS05. However, VS08, you can choose which .Net runtime to target, 2.0, 3.0, or 3.5.

>I have VS2005 installed and I also have VS2008. Can I install it on the same PC? Can I easily move projects into VS2008 but have them backward compatible?
>
>Thanks again.