At the Project Server Conference a couple of weeks ago, Kevin Kelly mentioned that currently TFS integration with Project is primarily through mpp files, not through project server.  Big disappointment here, but I did find the the PROJECT SERVER VISUAL STUDIO TEAM SYSTEM CONNECTOR GotDotNet Workspace. I have not had a chance to test it, but will blog about that when I get a chance to.  In the meantime, anyone interested in checking this out let us know what you find.  Keep in mind you have to apply to join the workspace.