Disclaimer The opinions expressed herein are my own personal opinions and do not represent my employer's view in any way.
I recently had to go through the process of installing Visual Studio 2008 with a team getting ready to use Visual Studio Team System and Team Foundation Server. Further, I have been tinkering with Silverlight 2 recently and this has even more tooling around it.
Based on this experience, I thought I would outline the installed components. You'll see that it takes awhile to get through all of this.
Keep in mind, this is the install for the client side. Not the server or the build machine.
Whew. Did I miss anything? The kitchen sink?