FYI: BI projects and Backward compatibility with rs2005

I was reading several posts on the web that suggested you need to retain side by side install of visual studio 2005 to retain your BI projects like reporting services and be able to deploy to rs2005 and as such ive retained my 2005 vis studio and 2005 bids studio.
However when I installed 2008 feb CTP into a seperate SQL instance my bids studio does show BI projects as available! and I also have a drop down in the top right that allows me to choose the ver 2.0 framework as the target framework. I havent actually tried deploying a report as yet but i can create a new reporting project without any errors.
config was Vista SQL2005 default instance with AS,RS & SSIS , Visual Studio2005(db pro version). I then added sql2008 feb ctp to this and still have visibility of BI Projects so on the face of it all seems well.