I have had this happen many times and it is a real pain.
Firstly I'd suggest attempting to follow the stack trace provided by the designer, though I found that often simply lists a bunch of internals stuff that isn't much use.
If that doesn't work then try compiling and determining the exception from there. You really are flying blind which is the problem. You could then try simply running the code and seeing what exception is raised when you run it, that should give you some more information.
A last-gasp approach could be to remove all the non-generated code from the form and gradually re-introduce it to determine the error.
If you're using custom controls you could manually remove the generated code related to the custom controls as well if the previous method still results in an error. You could then re-introduce this step-by-step in the same way to determine which custom control is causing the problem, then go and debug that separately.
Basically as far as I can tell there's no real way around the problem other than to slog it out a bit!