Just minutes ago, I finished my Webcast on Profiling with Visual Studio Team System, which is one in a series of Webcasts for MSDN Connection Service: Visual Studio 2005 Team Systems Beta Experience (MSDN Deutschland). As promised, here is a list of links that prove to be invaluable when navigating the "bits":
That should get you started with profiling. Next week's topic is "The build system of Visual Studio Team System".