Developing NETCFv1 programs with VS2005

I'm sure that many of you guys know how VS2005 breaks a lot of compatability with older Windows CE OS versions for both native and managed languages. It even goes as far as not allowing you to use even a CE 4.2 SDK with it! If you want anything other than ARM Pocket PC/Smartphone, its CE 5.0 and above only!

While its still possible to compile native executables for Windows CE 3.0 and earlier ( but ARM only!) using the built in Pocket PC 2003 (You can't even install the "real" P/PC 2003 eVC SDK!) pseudo-SDK and compiler switches (/subsystem:windowsce,3.00) I have yet to find a way to do something like this with managed .NET software.

I was wondering if this limitation is in fact artificial as with the C++ compiler. Or, could it be that there is some similar compiler switch that managed application developers can use that will compile their apps to use the NETCFv1 instead of the default NETCFv2? Its pretty crazy that MS expects developers to maintain an install of VS2003 and VS2005 just to develop for the different versions of .NET!

It would be great for those that want to develop for H/PC 2000 and only have VS2005. Its crazy to need to buy the "older" version when the new one is supposed to be an upgrade!

If anyone knows any tips, please don't hesitate to reply!