I have just installed Visual Studio 2010 Beta 2 and tried to create a new SharePoint 2010 project using the new SharePoint template. However I am getting the error: SharePoint Not Installed (A SharePoint server is not installed on this computer. A SharePoint server must be installed to work with SharePoint projects).
Strange...I have installed SharePoint 2010 Technical Preview on my development box. After I did a bit of search. It looks like Microsoft has blocked the creation of SharePoint project against any SharePoint builds other than Beta 2. In other words, this will only work with SharePoint 2010 Beta 2 which is expected to be out later this month.
For reference, this is what I found:
For the time being, I think I will need to stick with the generic empty project template and add the SharePoint reference by myself.
SharePoint 2010 Beta 2, can't really wait until you come out!