Tool to convert .vcproj into msbuild project files

If you are a big fan of msbuild, you already know that you cannot use msbuild natively to build VC++ projects. The project files for VC++ are still in the pre-2005 format and don't really make use of any of the msbuild functionality (unlike C# or VB.Net projects). For some users, this means that they cannot do any of the build customizations made possible by msbuild with VC++ projects. What's your experience with this problem? Does this affect you or your team signficantly? How do you work around this problem? I am very interested in hearing your thoughts on this topic.

The product groups are planning to fix this in the next version of the product. But in the meantime, there is a possibility of putting together a msbuild task library for cl and link. If you couple that with a tool that can convert a .vcproj into a msbuild project file that makes use of the cl/link tasks, we may have a solution for you. For more details see Craig Lichtenstein's blog posting on this issue. And be sure to share your thoughts on this issue with us.