Installed the Windows Phone Developer Tools. Then tried to run the emulator and it failed with “Error: Connection failed because of invalid command-line arguments.” The solution? (1) Reboot. (2) Run as administrator.

Also been reading Creating High Performing Silverlight Applications for Windows Phone. Awesome content. Tons of ideas and information. Essential reading.

Lastly, just starting to dive into the Microsoft Advertising SDK for Windows Phone 7. Documentation is on the web here.  Could be promising.