VS Debugger SLOW when .NET 1.1 installed side-by-side with .NET 2.0

[schmurgon]

Debugging my 1.1 framework ASP.NET web application (which talks to a
..NET Web Service on the same machine) has become extremely slow since
installing VS 2005 and / or SQL Server 2005. It takes between 2mins to
4 mins to step into the first web page!

Watching the output window, the first 15 to 20 assemblies load fast,
but then performance gradually decreases to the point where a single
line (indicating a loaded assembly in the Temporary ASP.NET files
directory) can take between 2 and 5 seconds.

I have read an article about having the CTP / Beta 2 version of VS.NET
2005 installed previously and an issue with uninstallation. I thought
this was my problem, but I have since re-installed my machine from
scratch.

I installed VS.NET 2003 Enterprise Architect on a clean machine, and
the debugger loads almost instantly. I then installed SQL Server 2005
(RTM), and instantly got the problem.

I then uninstalled SQL Server 2005 and VS.NET 2005 (Ent Architect) and
all related components ( and noticed that the
Microsoft.NET\Framework\v2.0.xxx folder was still there - so I removed
it ).

I re-ran my project in VS.NET 2003 and the debugger was fast again!!!

Things I have checked / tried:
1. Clean machine (no anti virus installed)
2. Running aspnet_regiis.exe -i after installing the 2.0 framework
3. Re-installing IIS
4. Clearing the Temporary ASP.NET Files folder.

Just to check, I tried installing VS.NET 2005 again - the problem
returned immediately!

Has anyone else experienced this?