Did a little fiddling with stored procedures, views, and user-defined functions. CREATE, DROP, EXECUTE, SELECT; all work as expected. Might dig through the documentation sometime to see if there are any changes that aren't intuitively obvious.
CREATE DATABASE seemed to work as expected, too. I did stumble across a little blurb in the help file that said the default filegrowth is now 1MB instead of 10%. Just replacing one potentially inappropriate arbitrary growth rate with another. Disregard the defaults and try to put together good estimates for your initial size and growth rates so you don't have to worry about frequent grows and the resulting file fragmentation.
Also noticed that the checksum() and binary_checksum() functions still ignore trailing spaces, to my continuing dismay. I'll have to dig up ufn_checksum() and see if it works in 2k5.
Microsoft SQL Server Management Studio was the name of the enterprise manager / query analyzer replacement I couldn't remember earlier. Maybe I'll remember it, now that I have typed it. At any rate, it looks like database diagrams may be gone, which probably isn't that great a loss. On the other hand, there are approximately 1,000 million T-SQL templates from which to choose (up from 3, give or take a few).