Problem migrating to .Net 2.0

Well, I've been working on this for two days now... Was wondering if anyone had any incite why I was having this problem:

I rebuilt my entire solution from scratch and replaced my original (3rd party) reference liraries to the new 2.0/vs2005 versions and re-added all my source to the project(s) within the solution. I have one project dedicated to client-side controls, another to my business logic, and a third as the client project itself which references the first two project. In my client controls project, I can open my user controls (where some of the controls within the client controls project are inherited by other controls within the client controls project) and view the controls without problem. Problem is, when I go to open a form within the client itself, I get a HUGE designer error which I posted at the bottom of my question. I am getting clueless to what to do to resolve this issue now. I have tried opening a second vs instance and debugging the first instance, but the exception being thrown by the designer appears not to be propogating to the second instance of vs cause I never see it catch. I have also made sure that my assembly versions are non-dynamic, which seems to prove no resolve either. Additionally, at one point in time I restarted visual studio and re-opened it. At that point in time I could open up my forms without problem (able to view and edit all of my forms to the fullest of extent, even with my client controls project's user controls). Shortly after adding some of the embdded resource files that I initially forgot to do, followed by rebuilding the whole project, I couldn't open my forms again, getting the same error. Please help!

EXCEPTION THROWN BY DESIGNER:

Object reference not set to an instance of an object.
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at System.Resources.Tools.StronglyTypedResourceBuilder.DefineResourceFetchingProperty(String propertyName, String resourceName, ResourceData data, CodeTypeDeclaration srClass, Boolean internalClass, Boolean useStatic)
at System.Resources.Tools.StronglyTypedResourceBuilder.InternalCreate(Dictionary`2 resourceList, String baseName, String generatedCodeNamespace, String resourcesNamespace, CodeDomProvider codeProvider, Boolean internalClass, String[]& unmatchable)
at System.Resources.Tools.StronglyTypedResourceBuilder.Create(IDictionary resourceList, String baseName, String generatedCodeNamespace, String resourcesNamespace, CodeDomProvider codeProvider, Boolean internalClass, String[]& unmatchable)
at System.Resources.Tools.StronglyTypedResourceBuilder.Create(IDictionary resourceList, String baseName, String generatedCodeNamespace, CodeDomProvider codeProvider, Boolean internalClass, String[]& unmatchable)
at Microsoft.VisualStudio.Design.Serialization.ResXGlobalObject.BuildType()
at Microsoft.VisualStudio.Design.Serialization.ResXGlobalObject.GetObjectType()
at Microsoft.VisualStudio.Shell.Design.GlobalType.get_ObjectType()
at Microsoft.VisualStudio.Design.Serialization.ResXGlobalObject.get_Children()
at Microsoft.VisualStudio.Design.Serialization.ResXGlobalObjectProvider.CreateGlobalObjectsForItem(ProjectItem item, GlobalObjectCollection oldObjects, GlobalObjectCollection newObjects, ITypeResolutionService typeResolver)
at Microsoft.VisualStudio.Design.Serialization.ResXGlobalObjectProvider.CreateGlobalObjectsForItem(ProjectItem item, GlobalObjectCollection oldObjects, GlobalObjectCollection newObjects, ITypeResolutionService typeResolver)
at Microsoft.VisualStudio.Design.Serialization.ResXGlobalObjectProvider.CreateGlobalObjects(Project project)
at Microsoft.VisualStudio.Design.Serialization.ResXGlobalObjectProvider.GetGlobalObjectsCore(Project project, Type baseType)
at Microsoft.VisualStudio.Shell.Design.GlobalObjectProvider.GetGlobalObjects(Project project, Type baseType)
at Microsoft.VisualStudio.Shell.Design.GlobalObjectService.GetGlobalObjects(Type baseType)
at Microsoft.VisualStudio.Shell.Design.GlobalObjectService.GetGlobalObjects()
at Microsoft.VisualStudio.Design.Serialization.CodeDom.AggregateTypeResolutionService.GetTypeFromGlobalObjects(String name, Boolean throwOnError, Boolean ignoreCase)
at Microsoft.VisualStudio.Design.Serialization.CodeDom.AggregateTypeResolutionService.GetType(String name, Boolean throwOnError, Boolean ignoreCase)
at Microsoft.VisualStudio.Design.Serialization.CodeDom.AggregateTypeResolutionService.GetType(String name)
at System.ComponentModel.Design.DesignerHost.System.ComponentModel.Design.IDesignerHost.GetType(String typeName)
at System.ComponentModel.Design.Serialization.CodeDomDesignerLoader.EnsureDocument(IDesignerSerializationManager manager)
at System.ComponentModel.Design.Serialization.CodeDomDesignerLoader.PerformLoad(IDesignerSerializationManager manager)
at Microsoft.VisualStudio.Design.Serialization.CodeDom.VSCodeDomDesignerLoader.PerformLoad(IDesignerSerializationManager serializationManager)
at Microsoft.VisualStudio.Design.Serialization.CodeDom.VSCodeDomDesignerLoader.DeferredLoadHandler.Microsoft.VisualStudio.TextManager.Interop.IVsTextBufferDataEvents.OnLoadCompleted(Int32 fReload)