When developing a new module, any change in the code results in all dlls being reloaded/recompiled by DotNetNuke.

Is there any way I can force IIS / ASP / DNN to only update the modified DLL? 
(IE: Keep all the dotnetnuke dll's, and only update the MyCompany.*.dll )

What about the edit and continue feature of VS2005 - will this solve the problem?

My current setup really slows down the development process...

Any feedback appreciated

Right Click on Build Support, select properties, then click on the Configuration Manager.  Uncheck everything but Build Support and your project.

Start DotNetNuking!

Edit and continue means that you don't have to restart the project like VS 2003, you can edit and continue like VB 6.

I hope this is of some help to you.