Peter Blomqvist and Mathias Olausson have undertaken an ambitious project to provide things like build queuing and continuous integration on top of TFS 2005. While we have these features in TFS 2008, this project provides some of these essential features for use with your current TFS deployment.
TFSBuildLab is a project to simplify the day to day operations when using automated builds and Team System.
This project handles common Team System issues such as:
Many of these issues are handled in the upcoming TFS release (http://download.microsoft.com/download/5/9/c/59cd0dc5-4691-4c3e-840c-66d865f27692/orcas-continuous-integration.xps), but we wanted to have a good implementation until then and we also aim to be as forward-compatible as possible.
Check it out and give them feedback on it!