UPDATE:Ok, I've got it compile..
This is what I have done:
.) Created a new WebApp Project and a Class Library Project, added the Files from the YAF Website Project to the Webapp (except the App_Code folder wich goes into the Class Library Project).
.) Added all needed references to the Library to get it compiled.
.) Updated all web.config entries referencing System.Web.Extensions (even the 3.5 config has references to 1.xx of the assemblies, so you will need to update no matter what config you use).
<- That was causing the exception, it tried to load the 1.xx ajax assembly.. (I'm stupid i know 
)
Just leave the entries and add:
Code: <runtime>
<assemblyBinding xmlns="urn:schemas-microsoft-com:asm.v1">
<dependentAssembly>
<assemblyIdentity name="System.Web.Extensions" publicKeyToken="31bf3856ad364e35"/>
<bindingRedirect oldVersion="1.0.0.0-1.1.0.0" newVersion="3.5.0.0"/>
</dependentAssembly>
<dependentAssembly>
<assemblyIdentity name="System.Web.Extensions.Design" publicKeyToken="31bf3856ad364e35"/>
<bindingRedirect oldVersion="1.0.0.0-1.1.0.0" newVersion="3.5.0.0"/>
</dependentAssembly>
</assemblyBinding>
</runtime>
.. works like a charm 
.) Update the web.config control entries to use the assembly created by the Class Library:
<add tagPrefix="YAF" namespace="YAF" assembly="YourClassLibrary"/>
<add tagPrefix="editor" namespace="YAF.Editor" assembly="YourClassLibrary"/>
.) The last step was to convert the thing to a WebApplication so all pages get updated to use the ClassLibrary.
After doing these steps everything complies fine, but here comes the next problem... when i run the app i get an "file not found" exception when it tires to load the the forum.ascx control.
This is where I am stuck right now...
Any ideas?
