Visual Studio 2005 let's you switch between different source control providers (e.g. Team Foundation Server and another SCC provider for Subversion or CVS) during runtime under Tools / Options / Source Control / Plug-In Selection. But if you still have to maintain some old .NET 1.1 code in Visual Studio 2003, you may be out of luck.
E.g. I recently had to access an old Sourcesafe repository, but since I had installed Team Foundation Server, Visual Studio 2003 would try to connect to the TFS server using a Sourcesafe URI. Not a good idea. And there is not way to change the provider back to VSS temporarily from within Visual Studio 2003.
Luckily I found this nice little tool SCCSwitch which did the job.