Project being built on
Would it be more convenient for me to build it using Visual Studio 2005 or Visual Web Developer 2010 Express? I.e., is VS2005 useless for web development projects since Vis. Web Dev has all the fancy new stuff?
Visual Studio 2005 is fine for Web Development as long as you want to target the .NET 2.0 runtime.
With those requirements though, I would definitely check out Visual Web Developer 2010 Express. I think you'll find that it gives you a much nicer coding experience. Depending on exactly what version you target, you'll also get access to features like LINQ which are extremely helpful.