Mads Kristensen published his Web Standards Update for Visual Studio yesterday which gives it full HTML 5 support (see image below). The update only works with SP1 versions of Visual Studio (full version and express) and can be downloaded here.
This is what is created in a new web form:
<!DOCTYPE html PUBLIC “-//W3C//DTD XHTML 1.0 Transitional//EN” “http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd”>
and this is how is should be formatted for HTML 5:
This isnâ€™t a big deal but hopefully future versions will have this fixed.