I have an issue that I am using Visual Studio 2005 on my system with Windows XP SP1 as an operating system. Now I want to install Visual Studio 2010 with SP3 without uninstalling VS2005.
My question is, will my project in VS2005 still work properly? Can I work in both versions without any conflicting issues?
This should be possible. According to the MSDN Documentation(Installing Visual Studio Versions Side-by-Side) you can install them side by side.
You can't however open a VS2010 project in VS2005. So you need to keep your work strictly separated between those versions if you want to be able to open your project in VS2005.