My colleague was having problems today importing a project template into Visual Studio 2008. He was setting up a Virtual Machine, which has some guidance package install, but the project templates were not showing up.
If you are encountering similar issues, this article on MSDN should help heaps.
Note: Remember to zip up your .vstemplate file, plus other necessary files, e.g. .csproj, .cs, etc files. VS 2008 will recognize it only if it’s in a .zip file.