MSBuild-the Next generation build engine
MSBuild is the [extensible, scalable, transparent] next generation build engine and platform for Visual Studio .NET. Many of our sharpest PMs, developers, testers, and yes, even writers, are feverishly working on this project.
more information about MSbuild.exe , there is a webcast about this tool:
http://msdn.microsoft.com/msdntv/episode.aspx?xml=episodes/en/20040122VSNETAK/manifest.xml