"We just released the official version of the Portable Library Tools. The set of tools and updates to .net platform allow you to create dlls that can be used in .NET Framework, Silverlight, Windows Phone, and XBOX projects. You can download the tools here and read more about them on MSDN." [GD: Post leached in full]
"Portable Library Tools is a new Visual Studio add-in from Microsoft that enables you to create C# and Visual Basic libraries that run on a variety of .NET-based platforms without recompilation.
"The Portable Class Library project enables you to write and build managed assemblies that work on more than one .NET Framework platform. You can create classes that contain code you wish to share across many projects, such as shared business logic, and then reference those classes from different types of projects.
Using the Portable Class Library project, you can build portable assemblies that work without modification on the .NET Framework, Silverlight, Windows Phone 7, or Xbox 360 platforms. Without the Portable Class Library project, you must target a single platform and then manually rework the class library for other platforms. The Portable Class Library project supports a subset of assemblies from these platforms, and provides a Visual Studio template that makes it possible to build assemblies that run without modification on these platforms.
One Binary * Many Platforms = Good Thing
Related Past Post XRef:
Write (.Net library) once, use everywhere (in .Net world)? The Portable Library Tools CTP Released. (Think “Reusing/Sharing the same Project between SilverLight, XNA, Windows Phone, etc” or “DRY .Net Project Style” )