Like many of you I installed one of the pre-release versions of Visual Studio 2005 and started coding desktop and device applications - once the RTM bits were available I duly uninstalled everything and then installed the RTM bits. Since then I've been writing/debugging desktop utilities (like CEFileWiz) and writing native and managed device applications (mostly for demos) - it's only last week that I actually needed to debug a managed device application (in the Windows Mobile 5.0 emulator), and breakpoints didn't work...
So, I ran over to Amit Chopra's office to see if Amit could solve the problem.
It turns out there were two problems that needed to be addressed, both cause by me using the pre-release versions of the Compact Framework 2.0 bits.
1. Amit cleared the "Saved State" in the emulator - so the next time the emulator booted it would be a clean image without the "old" CF 2.0 bits (File | Clear Saved State)
2. Remove the "old" CF 2.0 bits through Control Panel | Add/Remove programs and then re-install the CF 2.0 bits (I installed from the initial install media)
That's it, just two simple steps to get debugging working again...