VS2008 allows to target multiple .NET versions (V3.5, V3.0 and V2.0). But where exactly to set it? The thing is that this setting is found at different locations depending on whether it is a VB.NET project or C#.NET project.

For C#, it can be found on the application tab of the project options itself. You can simply choose which .net version to target from a dropdown list of supported versions. However for VB, this option is found by clicking on "Advanced Compile options" in the compile tab. Besides targeting .net version, there you can set other options like Remove integer overflow, Define debug and trace consts etc.

VB has a habit of doing things differently from C# or, it is other way around? Anyway, hope it will help someone.