Microsoft just released an updated Read80Trace that works on SQL Server 2005. The name is simplified to just ReadTrace. ReadTrace is a command-line utility that analyzes a SQL Server trace file and summarizes performance. The new version has a more graphical interface. The original was one of the most helpful performance tuning utilities I've ever used. I expect this one will be just as useful.
This is a companion discussion topic for the original entry at http://billg.sqlteam.com/2007/12/19/readtrace-for-sql-server-2005/