Hello Carl,
As VS 2008 approaches, we have been getting this question more often. There are plans in the works to put out an installer that supports VS2008.
The short answer is yes, TeamLook and TeamSpec should work with VS 2008 as long as you have the correct TFS Client assemblies installed (TFS Client SP1). Currently, our installer may complain that you don't have VS2005 installed and there is not a good way around this.
If you are seriously interested in getting TeamLook working on the VS 2008 beta, please contact teamlook@personifydesign.com and we will work towards something that can help you.
Thanks,
~Joe