.NET 3.0 doesn't really deserve that version moniker. It's more like 2.5. It's just the 2.0 CLR with some new managed namespaces (namely WPF, WCF, CardSpace etc).
Orcas (the next Visual Studio release) is still some time away (probably '07 Q4) but it will include all the IDE components for making use of the new namespaces in .NET 3.0 - most particularly WPF. They are doing a lot of work to the VS designer to support WPF, as well as Windows Forms.
Orcas will coincide with the next CLR release (which one Redmond blogger recently hinted could be called .NET 3.5) of course because Orcas will also include enhancements to properly support LINQ - arguably the best new feature in the next CLR.
It's quite wierd because when VS 2005 first came out I found it to be quite buggy (the occasional unhandled exception, usually thrown by the designer). But those niggly bugs I encountered early after the RTM seem to have disappeared

Did Microsoft sneak out some silent hot fix they didn't tell anyone about? Maybe in a .NET security update?