BIDS is a trimmed down version of VS2010 with the project templates related to Business Intelligence installed.
i have VS 2010 professional, and I have SQL 2008 standard installed on my machine; when i open Normal Visual Studio, i can create a new project, and select the right template; you should be able to do the same.
AFAIK, it doesn't matter which order they are installed (VS2010, then BIDS, or vice versa), because the templates are installed in a common location.
Lowell
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