I don't understand what do you want ... if you do an .NET 1.1 application,I thinks you can rebuild it in .NET2.0 ... .NET 2.0 only give you new functionnalities added to the .NET 1.1 ...
I think ( i not sure of that ) .NET 2.0 is quicker than .NET 1.1 ...
So why do you want to stay in .NET 1.1 when you can do the same thing in .NET 2 ???
Sm@llpox