Yesterday I installed SP1 for Visual Studio 2008 and .NET Framework 3.5. What a great start after 7 weeks vacation! In my opinion it was a little bit unclear that the Visual Studio SP1 download was the correct one also for the Team System versions (not even listed under Team System in MSDN Subscriber downloads), but it is. Sam Gentile has, as always, nicely gathered all the interesting links. I recommend doing the installation in the evening (or when you don't need the computer to anything), because it is very picky about programs running (also Outlook, Word and so on). If all programs is closed I belive that the installation only will prompt for the original Visua Studio installation location once.