I've heard a lot of complaints about SQL Server Management Studio concerning slowness and some of the things, like scripting out objects into individual files, that are missing. I have been using it to manage my SQL Server 2000 and 2005 servers for several months and have gotten used to it. My favorite feature is the Script icon. Many of the old commands will be gone from future versions of SQL Server. While most will still work in SQL Server 2005, it is important to learn the new commands. Set up a new user, create a table, or whatever, in SSMS, but instead of clicking "OK" or "Apply", click the Script icon to send the code to a Query Editor Window. The code for the appropriate version of SQL Server will be generated.
One thing I really like, is that the new commands I have run across so far don't require so much memorization. Instead of memorizing sp_grantdbaccess to create a database user, the new command is CREATE USER, what you are actually doing.