For Visual Studio teams, Microsoft's Team Foundation Server is getting much better...2010 provides much more syncing and task hierarchical mgmt then 2008 and 2005 before, but still not a fully healthy PPM solution out of the box...if you have the skills, create an entire process template for your org and really get the power out of TFS. Kudos to msft for the 2010 version and the much improved MS Project 2010 product...I'm in the middle of evaluating this myself.
@task is awesome even in its standard edition suite - expensive, but allows total tracking, mgmt, dashboard, timesheet, doc mgmt, etc, etc, etc right out of the box on a SAAS model.
Basecamp has become the trendy adaptation to the PPM problem. I've used it some with clients, but would love to trial it for myself soon.