We moved away from using "Tool->Options->Projects and Solutions" to define the include directorys for both system wide and SDK wide librarys inside the project settings. The reason for this, was that this was not carried accross when we added a new developer onto the team. It would intail the new person copying accross all these extra include directory's and lib directorys.
Instead we settled on just using the Project Settings, include paths for both LIB and HPP files. We would rarely touch the Project and solutions VC++ Directories in TOOL->Options->Projects and Solutions.
Recommend to install the early version of your SDK first, then get it to compile then move accross to the latest framework instead. Even opt for a virtual machine so that you can fast forward and rewind depending on the DLL hell you get into. But the best of my knowledge DirectX uniquly names their DLLS with the version number to prevent DLL hell from occuring.
Have fun.