I have been unable to locate any information on compatibility with Visual Studio 2003 or 2005. I currently have TFS 2010 working correctly with Visual Studio 2008, but we have some developers with Visual Studio 2003 and 2005 instances.
To use VS 2003 you'll have to install the MSSCCI provider.
http://visualstudiogallery.msdn.microsoft.com/bce06506-be38-47a1-9f29-d3937d3d88d6
"Kinda"
You'll need to install a Forward Compatibility Update and even then not all features of 2010 are supported. You can find out more on the Team Foundation Server blog here: http://blogs.msdn.com/team_foundation/pages/compat-matrix-for-2010-rtm-team-foundation-server-to-team-explorer-2008-and-2005.aspx
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