At last, some timings:
9:18 - end of .net framework install - Reboot
9:22 - Back from reboot (4 min for xp sp2 rc2 - too much)
9:58 - end of vs install -0 Reboot
10:01 - back from reboot (still almost 4 min)
10:03 - everything is finished
VSTO is working like a charm - try opening a new word project adding a custom user control and then addind an instance of it to this.ActionPane.Controls and run the project, it couldn't be easier than that.
Coode Snippets are there too, love it - what is miising is a nice editor to add new ones, I heard there is one in the works...