How can you avoid the UAC prompt for applications you frequently run? Well, you could turn off UAC entirely, but that's a bad plan. There are two ways: one is realistic and feasible, and one much less so.
The less feasible one is that you could re-enable the Administrator account (not just some account you happen to have that is in the Adminstrators group, but the actual Administrator account) and log on as that. Pretty much everything you do will be elevated and you won't be prompted about it. But I don't want to do that. I want to log on as me. Plus, I kind of want to control my prompt-noprompt life, or we're right back to malware using my powers without me knowing.
So here's my solution. Get yourself an elevated command prompt (Start menu, spot a command prompt shortcut, right click, Run as Administrator.) Consent once and for all (till your next boot) to elevating that prompt. Now everything you launch from there is elevated, no prompt. Don't believe me? Try regedit. Try notepad. Then try, say, editing your hosts file with that notepad. Cool, no?
Leave the elevated command prompt open, and use it whenever you want to do something elevated. No prompting. You have to type the name of the app (Visual Studio is devenv, which you will care if you're still using 2005.) But pretty painless.