Jeff Beehler: “Selecting the right branching strategy is one of the most important aspects of TFS deployment. Picking the right strategy can lead to optimized team cooperation, increased productivity and a successful adoption. On the other hand, selecting a bad branching strategy can cause frustration, damage productivity and derail TFS adoption in an organization. We have therefore put a lot of effort in creating a set of practical guidance to educate our customers and partners and support their VSTS adoption efforts.”
You can see the guide at (came out late dec 2008):