Visual Studio Team System 2005 had a profiler that was useful in obtaining response times and diagnosing time taken by each component/method.
Now in v2008, the Profiler comes equipped to do heap analysis. Information on how to enable heap analysis can be found at this blog
At the end of it, we get a report of the top methods allocating most memory, the types occupying most memory, etc.
This report is not as comprehensive as that provided by Numega DevPartner Studio.