visual studio 2005 pro, intellisense broken, or is it me?

Question

i start a new c# project or source file... if i type "using System." (note the dot) i get a popup of choices. I notice that System.Net is not on the list (and probably more). if i manually type System.Net my code will compile and run, but there is no intellisense for any classes in
System.Net. for instance if i type WebRequest it doesnt change color as it should when it is "recognized".

am i missing something?