Found this nice article.

Creating MMC Snapin using C# (Part I)

Requires a the MMC .Net library over at sourceforge.

http://sourceforge.net/projects/mmclibrary/

Niftty feature in 2.0,

this is via http://blogs.msdn.com/dgorti/

In Whidbey (.NET Framework 2.0) System.Net has a new feature called Tracing.
This uses the builtin CLR Tracing functionality. What is interesting about the System.Net Tracing is that
You can easily  see the data that is being sent or received without having to use the NETMON.

If you have used Network Monitor tools like NETMON/Ethereal you will find that
there is so much noise that you need to weed through. This can be partially addressed through
capture filters and display filters. But then looking at a frame in the capture you can't
easily determine which process issued that request. Similarly if there are multiple threads,
you can't easily determine which thread issued that request. One more thing is that if the
client and server are on the same machine you can;t capture the loop back traffic. Perhaps the most limiting of all
is that if the application is using SSL (https or FTP with SSL) then it is not possible to look at the traffic.
You can at most see the TCP frames with encrypted payload. Not much of use. Right?

With System.Net, we addressed all these issues. System.Net tracing is
1) Per process
2) Shows threads
3) Works for SSL
4) Works for Loopback.
5) You don't need to recompile the code

Continued..