Using Microsoft Team Foundation Service

Finally its 25-12-12 here in India... Merry Christmas to all...!
This is my first post on any topic and i think none other than this day would have been best for start :)
Pls. provide feedback and sorry for any possible mistakes that occur.

This post is about Microsoft's latest offering: Team Foundation Service

Intro:

Team Foundation Service (tfs) evolved from Microsoft's popular product Team Foundation Server.
In simple terms, it is SaaS implementation of Team Foundation Server.
Tfs is a complete cloud-powered source code management, Agile Planning and Collaboration Tool together with support for Testing and Building. It can support any language from C to Java to C# to Ruby. It is even compatible with prominent IDEs including Visual Studio, XCode and Eclipse.
Currently Tfs supports upto 5 free users with prcing to be announced in early 2013.
The Free Plan currently includes the following:

Up to 5 users
Unlimited number of projects
Version control
Work item tracking
Agile planning tools
Feedback management
Build (still in preview)

Registration:

To register for Tfs, navigate to tfs.visualstudio.com .

On the site, you can learn more about the service and features.
To register, Click on Sign Up for free link on top right corner.

The signup page arrives and you would need a Windows Live ID to register.
Fill in a preferred name in Account URL shown highlighted below.
You may directly sign-in next time by visiting the URL: [account-url].visualstudio.com

Click Create account and fill other credentials as required.
After completing this step, you will finally be redirected to Home as shown below.

The home page shows two columns.
The left one have two buttons: "Browse all.." to view all your projects and "New Team Project" to create a new Team Project.
The right column lists some links with their description.

Creating New Project:

Now to create a New Team Project, click on "New Team Project" button in left column.
A popUp appears as shown:

Fill in the required fields and select the necessary options and click "Create Project".
The Pop-up shows the progress of project creation with beautiful AJAX transition.

The project is finally created with confirmation.
Click "Navigate to Project". The projects dashboard is finally seen with lots of options.

This dashboard can be used to control various aspects related to project.