Let's sort out some of this stuff. My erstwhile eggheadcafe.com partner and chief geek, Robbe Morris, attempted to set this up.
I gotta tell you, this is one dude who doesn't give up easily. He is persistent, dogged, determined. Bottom line? He gave up! Mostly because it wants to hog website "#1" and we aren't gonna mess with the metabase.
He even talked to PSS and they basically said "That's what you have to do". Dudes! WebSite "#1" is not going to get changed to accomodate VSS 2005's quirks, OK?
Now let's do a little research, mostly by Googling "Sourcesafe 2005 Internet":
First big info blog: http://www.hannesschmidt.de/node/35
Prognosis: Not good. Patient might be alive, but we can't communicate with him / her....
Next Victim: http://www.yafla.com/dforbes/categories/softwareDevelopment/2005/11/24.html
Prognosis: Success, but had to workaround "Braindead configuration".
Prognosis: Moderate success, after fiddling with permissions (which should be offered during the setup process).
Next Victim: SourceSafe team's own weblog: http://blogs.msdn.com/checkitout/rss.aspx?CategoryID=5890
Prognosis: pretty spare on content! It says "We're hiring". Damn well better be hiring!
Next: Yack's blog: http://blog.davidyack.com/archive/2005/06/22/710.aspx
Link on manually registering a client.
Prognosis: Jury's still out. Yadda yadda, Warden!
Next Victim: Wikipedia entry: http://en.wikipedia.org/wiki/Visual_SourceSafe
Prognosis: Mixed review.
Oh, there is much more. I guess we will wait for the Service pack sometime late this year, or for somebody to write a whole book about it, or TFS, which certainly isn't a cheapo alternative....