For those that are running LabVIEW 7.1 and using .NET, I strongly recommend upgrading to the recent patch.
This patch adds support for the recently released .NET 2.0 framework. One of the important reasons for doing this is that, even though you may not upgrade your machine to .NET 2.0 manually, the framework may still be installed on your machine by another application.
Remember that .NET is a runtime engine, similar in this way to the C or VB runtimes, and is a required component for some applications to work. For example, the control application for my new video card requires .NET 1.1 and would install it silently if I didn't already have it. Within the next year I would expect that the same will be true for .NET 2.0.
For those that want to ensure that, even with .NET 2.0 installed on their system, that they continue to use only the .NET 1.1 framework when building VIs, see the following post
Why would you want this? If your VI's are built with .NET 2.0 calls, they will require that .NET 2.0 be installed on the box. If your target box is only spec'ed to have .NET 1.1, make sure to set the configuration file mentioned in the post so that you only build .NET 1.1 VIs.
Let me know if you have any questions.