This is really weird.  I'm playing with the production (RTM) version of VS2005.  I add a reference to a DLL (.net assembly) by browsing to the file and choosing it directly.  It adds it to the project just fine but it's referencing a totally different file.

I choose this file “c:codecommondllslog4net.dll” and get this “d:projectssomeplacecompletelydifferentlog4net.dll”.

This file isn't GAC'd or anything either.  Weird, huh?  Any ideas?

-Ben

[Update #1] -- I looked at the .csproj.user file for this project and the ReferencePath element had some really weird paths in it.  I erased the contents of that tag and it's working now.