From everything I have heard, no. We initially had VS 2008 and SQL 2005. When I started making reports for the SQL 2005 server, I also had to install VS 2005 just to do reports. This was also confirmed by Microsoft when I asked them about it. Now, I can view/show the reports from 2005 in VS 2008. Hope that helps!
~Brett
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Web/.net Programmer & DBA
Central PA