I've spent a bit of time recently using TFS and trying to get my head around its templates.
Out of the box you get one for MSF for Agile, and one for a heavier, CMMI process. Over the last couple of days though I've installed the Conchango SCRUM template and have been playing with it.
So-far I'm pretty impressed. Especially with the online guidance. I think the videos of Ken Schwaber talking through the various phases of SCRUM are excellent.
I worked with Version-One and Perforce in London a few years ago with great success so am looking forward to playing more with TFS / SCRUM.