Can anyone explain what advantages there are to using a tool like MSBuild (or NAnt) to build a collection of projects versus running DevEnv.exe from the command-line? A colleague I had worked with in the past had explained that (at least with older versions of Visual Studio) using DevEnv.exe was much slower than the other techniques, but I haven't read any evidence of that or if that is now a moot point now that VS 2008 uses MSBuild under the hood.
I know one advantage of using MSBuild allows you to build your projects without requiring Visual Studio to be installed on the build machines, but I wasn't sure if there were others.