The compiler doesn't use the GAC. The GAC is a runtime only feature of .NET. The compiler must still use a formal file path. If you dump the command line used by the C# compiler, for example, you'll see full paths to each of the system binaries that you link against. These paths will be of the form c:\windows\microsoft.net\framework\v2.0.50727\file. These are the files you actually use when you use references in the IDE as well. The assembly loader (fusion) is the component that knows to load from the GAC first and then the formal path.
Therefore you should specify the full path to your custom assemblies when you add them to the referenced assemblies list.
Michael Taylor - 10/27/06
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