Visual Studio 2010 Web Deployment Projects provide additional functionality to build and deploy Web sites and Web applications in Visual Studio 2010. This add-in provides a comprehensive UI to manage build configurations, merging, and using pre-build and post-build tasks with MSBuild.
Web Deployment projects do not change the way Visual Studio 2010 Web Sites or Web Application Projects build. Instead, they take an existing Visual Studio Web project as input and generate a precompiled Web as an output. A Web Deployment Project does not change the files in the source Web site project in any way.
Visual Studio 2010 Web Deployment Projects has all the functionality that Visual Studio 2008 Web Deployment Projects had. Developers can read more about this core functionality at Using Web Deployment Projects with Visual Studio 2005.
Check-out this blog post for more details on this latest release.