After a long period of testing and customizing the Team foundation Server to our needs, We can finally say that we have a great results.

First, I would like to invite all of you: use the TFS it is a great tool and it will help you being more productive.
Second, Matan¹ and I thought about useful feature for the next release:

Inheritance in process templates (VSTS)
Background:
   We have two different systems: StandardWorld, AmazingWorld.
   We want to customize the bug work-item, for example, so each programmer\tester will not forget 
   writing important details.
   (for example: the user's profile which caused the error.
   Why? because in our system we would like to know the user's profile which produced the bug).
   But Hey, it is system-based, in StandardWorld, for example, we don't have profiles at all.

How do we gonna implement this today:
   Today we just create two different process templates (AmazingWorld-ProcessTemplate and 
   StandardWorld-ProcessTemplate) which are the same, but with different additions for each 
   system. For example: in AmazingWorld-ProcessTemplate we would add the special field to the 
   bug work-item.

The Problem:
   All the  known copy&paste errors, from the Software development, each minor change will reflect
   on two different places, and so on. 
   Think about your code, we always try to prevent the copy&paste operation.

Our Solution:
   Lets define inheritance between process templates.
   For example: StandardWorld will use the default template (the base template), and the 
                     AmazingWorld will use the extended template (the one with added features).
   The logic should be like this:
      For each new template we could choose if we want to inherit from other class/template or not.

Updated:
  I opened a lady bug at microsoft:
  http://connect.microsoft.com/VisualStudio/feedback/ViewFeedback.aspx?FeedbackID=241462
  Vote for it.

Conclusion:
   We think that it will help us create more generic templates!
   Let me know what do you think about this?
   Is this a good feature for the next version?

¹A few words about Matan: he took this mission with his two hands (strong and big I might say) and lead the team to a better process. If you would like to ask more questions about the TFS do not hesitate.