Keep the following in mind with 2.0 Asp.net applications
Visual Studio 2005/2008 knows nothing about compiling a web application. Visual Studio lets the asp.net platform perform the compilation.
When you perform a VS.NET Build > VS.NET does not build the application, Asp.net performs the build build of all the .cs and .vb files. The resulting assemblies are placed by default in the C:\Windows\Microsoft.NET\Framework\v2.0.50727\Temporary ASP.NET Files directory.
The debug setting in the web.config (debug/release) controls the compilation mode. If in debug mode then...