I've been looking at .NET localization and resource handling in .NET 2.0 and Visual Studio 2005.  If you've created a Windows Forms application using Visual Studio 2005, you'll notice a Properties folder in your project containing a default Resources.resx file.  Here, you can use the designer to easily add formatted string resources, as well as images and icons.  Even if you are not writing an localizable application, the resource file can be a handy, central location to contain string constants used by your application ...

To fetch a resource string in you application, simply create an instance of System.Resources.ResourceManager and invoke the GetString() method like so:

ResourceManager resMgr = new ResourceManager("MyProject.Properties.Resources", this.GetType().Assembly);
string s = regMgr.GetString("String1");